American Express Global Business Travel (GBT) has made a binding offer to acquire Egencia, Expedia Group's corporate travel arm. As part of the transaction, Expedia Group would become a shareholder in
6 hours ago
American Express Global Business Travel (GBT) has made a binding offer to acquire Egencia, Expedia Group’s corporate travel arm.
As part of the transaction, Expedia Group would become a shareholder in, and enter a long-term strategic commercial agreement with, GBT.
Paul Abbott, GBT chief executive, said: “Our strategy is to provide customers with unparalleled choice by having the best solutions for each managed travel segment that we serve.
“In Egencia, we would welcome the industry’s leading digital business travel platform.
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“Egencia would be strengthened by GBT’s complementary technology, enterprise capabilities and cutting-edge content. This would create new opportunities for both multinational and small and medium-sized enterprise clients, suppliers and the talented teams within both organisations.”
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American Express Global Business Travel, a joint venture partially owned by the credit-card giant, is planning to acquire
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A person enters the American Express Tower in New York, U.S. Photographer: Michael Nagle/Bloomberg
Expedia will become a shareholder in and enter into a long-term commercial agreement with AmEx Global Business Travel as part of the agreement, the two companies said in a statement Tuesday. Financial terms of the deal weren’t disclosed.
“Expedia Group strongly believes in the robust return of travel, including in the corporate space,”