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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

AmEx will spin off business travel in $900 mln deal

Posted on 18 March 2014

American Express Co. (AXP) agreed to sell a 50 percent stake in its business-travel division for $900 million to partners that include Qatar’s sovereign-wealth fund.
AmEx will create a joint venture with an investor group led by Certares International Bank LLC and Qatar Holding LLC, AmEx and the Qatari fund said today in separate statements. The business will use the American Express brand and be headed by Bill Glenn, the New York-based firm’s president of global commercial services, AmEx said. The consumer travel operation isn’t part of the deal………………………………………..Full Article: Source


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