American Express sells 50% of business travel division

An investor group has invested $900m for a 50% stake in American Express' Global Business Travel division.

American Express sells 50% of business travel division
American Express sells 50% of business travel division

American Express will share ownership of the joint venture with an investor group led by Certares.

The Certares-formed group includes Qatar Investment Authority through its wholly-owned subsidiary Qatar Holding LLC, funds managed by BlackRock, Certares itself and Macquarie Capital.  

The business will continue to operate under American Express Global Business Travel.

American Express announced its intention to pursue a joint partnership with an investor group led by Certares in September 2013.

Kenneth Chenault, chairman and chief executive officer of American Express, said: "The joint venture reflects our continued commitment to the travel business through a new structure with an outstanding group of investors and the resources to grow the business and provide additional value to our corporate customers." 

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Register now
Already registered?
Sign in
Quality counts in Singapore

With its state-of-the-art, flexible spaces, Singapore's Shangri-La Hotel is the luxury venue of choice.

Tee time: Global golfing

Tee time: Global golfing

Some say 'golf is a good walk spoiled', but for these five resorts it couldn't be further from the truth.

10 cities that are championing accessibility for venues and events

10 cities that are championing accessibility for venues and events

Report showcases destinations meeting the needs of delegates with disabilities.

My Dream Event: An immersive sonic experience with Max Richter

My Dream Event: An immersive sonic experience with Max Richter

Paul Boulding, creative director at SET Live would hold a product launch where sound is king at the Saatchi Gallery.

Historic Soho music venue gets £1m restoration

Historic Soho music venue gets £1m restoration

Refurbished venue will open on 28 November as Soho Residence and have capacity for 350 over three floors.

Poor work culture can derail mergers and acquisitions

Poor work culture can derail mergers and acquisitions

Report finds 100% of UK employees would consider leaving a job if it was not a good cultural fit for them after M&A activity.

BA launching London to Charleston route in April

BA launching London to Charleston route in April

Travellers will be able to fly directly from Heathrow to the home of the iconic 1920s dance craze in South Carolina.

5 principles for success in the business of events

5 principles for success in the business of events

CEO of INVNT Scott Cullather spoke at the US Forum and offered agencies advice for staying on top of their game.

'If we have entered the Brexit endgame, the industry needs to understand the ramifications'

'If we have entered the Brexit endgame, the industry needs to understand the ramifications'

It's time to set our sights on the details of the deal, says Rachel Ley, managing director of RLC.

Where are the riskiest places to travel in 2019?

Where are the riskiest places to travel in 2019?

Travel Risk Map reveals the latest medical, road safety and security risk ratings of countries around the world.

LATEST JOBS