<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Amendment No. 2
Under the Securities Exchange Act of 1934
BUDGET GROUP, INC.
- --------------------------------------------------------------------------------
(Name of Issuer)
Class A Common Stock, par value $0.01
- --------------------------------------------------------------------------------
(Title of Class of Securities)
1190032101
- --------------------------------------------------------------------------------
(CUSIP Number of Class of Securities)
Questor Partners Fund, L.P.
Questor Side-By-Side Partners, L.P.
103 Springer Building
3411 Silverside Road
Wilmington, DE 19810
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
Copies to:
Robert E. Shields
Questor Management Company
4000 Town Center, Suite 530
Southfield, MI 48705
(248) 213-2200
Serge Benchetrit
Willkie Farr & Gallagher
787 Seventh Avenue
New York, NY 10019
(212) 728-8000
August 5, 1999
- --------------------------------------------------------------------------------
(Date of Event which Requires
Filing of this Schedule)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(b)(3) or (4), check the following: [_]
<PAGE>
SCHEDULE 13D
- ---------------------- -----------------
CUSIP No. 1190032101 Page 2 of 6 Pages
- ---------------------- -----------------
- ----------- --------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Questor Partners Fund, L.P.
- ----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- ----------- --------------------------------------------------------------------
3 SEC USE ONLY
- ----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- ----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- ----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
1,587,968
--------- ------------------------------------------------
NUMBER OF SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING 0
PERSON WITH
--------- ------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,587,968
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- ----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
1,587,968
- ----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- ----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.5%
- ----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- ----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- ---------------------- -----------------
CUSIP No. 1190032101 Page 3 of 6 Pages
- ---------------------- -----------------
- ----------- --------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Questor Side-By-Side Partners, L.P.
- ----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- ----------- --------------------------------------------------------------------
3 SEC USE ONLY
- ----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- ----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- ----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
113,924
--------- ------------------------------------------------
NUMBER OF SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING 0
PERSON WITH
--------- ------------------------------------------------
9 SOLE DISPOSITIVE POWER
113,924
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- ----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
113,924
- ----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- ----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.3%
- ----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- ----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
This Amendment No. 2 to Schedule 13D relates to the Class A Common Stock,
par value $0.01 per share (the "Budget Common Stock"), of Budget Group, Inc., a
Delaware corporation ("Budget"). This Amendment No. 2 supplementally amends the
initial statement on Schedule 13D of the Reporting Persons filed on June 29,
1998 (the "Initial Statement") and Amendment No. 1 thereto filed on July 13,
1999. The principal executive offices of Budget are located at 125 Basin Street,
Suite 210, Daytona Beach, Florida, 32114. This Amendment No. 2 is being filed by
the Reporting Persons to report recent transactions in the Budget Common Stock
as a result of which the Reporting Persons ceased to be the beneficial owners of
more than 5% of the shares of Budget Common Stock. Capitalized terms used herein
and not otherwise defined herein shall have the meanings given to them in the
Initial Statement.
1. Item 5 is hereby amended by deleting paragraph (a) and replacing it with
the following paragraph:
(a) As of August 12, 1999, (i) Questor Partners beneficially owns and has
sole voting and dispositive power of 1,587,968 shares of Budget Common Stock,
representing 4.5% of the issued and outstanding shares of Budget Common Stock,
and (ii) Questor SBS beneficially owns and has sole voting and dispositive power
of 113,924 shares of Budget Common Stock, representing 0.3% of the issued and
outstanding shares of Budget Common Stock. The foregoing percentage calculations
are based on 34,974,465 shares of Budget Common Stock being outstanding as of
August 12, 1999 as reported in Budget's Quarterly Report on Form 10-Q for the
quarter ended June 30, 1999. Except for Questor Partners and Questor SBS, to the
best of the Reporting Persons' knowledge, none of the other persons named in
Item 2 above own any interests in the shares of Budget Common Stock.
2. Item 5 is hereby amended by deleting paragraph (c) and replacing it
with the following:
(c) The Reporting Persons have entered into the following transactions with
respect to the shares of Budget Common Stock during the past 60 days:
<TABLE>
<CAPTION>
Date of Nature of Number of Price Per
For the Account of: Transaction Transaction Shares Share
- ------------------- ----------- ----------- ------ -----
<S> <C> <C> <C> <C>
Questor Partners 6/25/99 Sale 16,795 $13.3924
Questor SBS 6/25/99 Sale 1,205 $13.3924
Questor Partners 6/28/99 Sale 6,065 $13.375
Questor SBS 6/28/99 Sale 435 $13.375
Questor Partners 6/29/99 Sale 16,608 $13.1285
Questor SBS 6/29/99 Sale 1,192 $13.1285
Questor Partners 6/30/99 Sale 3,452 $13.125
4 of 6
<PAGE>
Questor SBS 6/30/99 Sale 248 $13.125
Questor Partners 7/13/99 Acquisition 352,133 See Item 3
Questor SBS 7/13/99 Acquisition 25,265 See Item 3
Questor Partners 7/22/99 Sale 22,393 $9.1928
Questor SBS 7/22/99 Sale 1,607 $9.1928
Questor Partners 7/28/99 Sale 19,688 $9.3842
Questor SBS 7/28/99 Sale 1,412 $9.3842
Questor Partners 7/29/99 Sale 70,913 $9.00
Questor SBS 7/29/99 Sale 5,087 $9.00
Questor Partners 7/30/99 Sale 69,980 $9.0546
Questor SBS 7/30/99 Sale 5,020 $9.0546
Questor Partners 8/2/99 Sale 13,996 $9.125
Questor SBS 8/2/99 Sale 1,004 $9.125
Questor Partners 8/5/99 Sale 139,959 $8.75
Questor SBS 8/5/99 Sale 10,041 $8.75
Questor Partners 8/6/99 Sale 23,327 $9.00
Questor SBS 8/6/99 Sale 1,673 $9.00
Questor Partners 8/9/99 Sale 7,463 $9.1953
Questor SBS 8/9/99 Sale 535 $9.1953
Questor Partners 8/12/99 Sale 14,276 $9.125
Questor SBS 8/12/99 Sale 1,024 $9.125
</TABLE>
As of August 5, 1999, the Reporting Persons ceased to be the beneficial
owners of more than 5% of the shares of Budget Common Stock.
5 of 6
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: August 18, 1999 QUESTOR PARTNERS FUND, L.P.
By: Questor General Partner, L.P.,
its General Partner
By: Questor Principals, Inc.,
its General Partner
By: /s/ Robert E. Shields
------------------------------
Robert E. Shields
Managing Director
Dated: August 18, 1999 QUESTOR SIDE-BY-SIDE PARTNERS, L.P.
By: Questor Principals, Inc.
its General Partner
By: /s/ Robert E. Shields
------------------------------
Robert E. Shields
Managing Director
6 of 6
