American Express enters into agreement to create joint venture for business travel
Category: Agency & Association
Published: Tuesday, 18 March 2014 10:37
American Express Company has today announced that it has signed an agreement to create a joint venture for its Global Business Travel division (GBT). Under the agreement, American Express will share ownership of the joint venture with an investor group led by Certares. In the proposed transaction, American Express will separate its GBT operations into a dedicated holding structure, which will include certain assets and liabilities that currently comprise GBT, and will have a 50% ownership stake in the joint venture following the closing.
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