GBT has more than 18,000 employees across a network of more than 140 countries and manages more than $35 billion of corporate travel every year.Īmerican Express (NYSE: AXP) will retain its 50% ownership stake, while the Certares-led investor group holding the other 50%, including Qatar Investment Authority, certain funds managed by BlackRock, and Teacher Retirement System of Texas, will now include The Carlyle Group’s (NASDAQ: CG) long-duration private equity platform, Carlyle Global Partners, and GIC, an institutional investor. Since the joint venture was formed in 2014, it has established its position as the world’s largest travel management company. American Express Global Business Travel (GBT), the world’s leading business partner for managed travel, today announces the signing of an agreement for an equity recapitalization of its joint venture ownership structure to maintain GBT’s focus on its long-term growth strategy. Certares commits to American Express Global Business Travel Founder and Senior Managing Director Greg O’Hara continues as Board Executive Chairman.The Carlyle Group’s long-duration private equity platform, Carlyle Global Partners, and GIC join investor consortium.
American Express retains 50% stake in the joint venture commits to long-term stake in business travel.
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