Amex GBT bets on business travel recovery with Egencia acquisition
American Express Global Business Travel is planning to acquire corporate travel firm Egencia from Expedia Group.
Transaction details have not been disclosed but Expedia will become a shareholder in Amex GBT and enter into a commercial agreement with the company.
"We’re excited about our potential ownership in GBT and our long-term arrangement to power Egencia and GBT, as we do for thousands of other travel companies," said Ariane Gorin, President of Expedia Business Services.
The commercial agreement will see the Egencia brand continue and GBT would continue to invest in the Egencia brand.
It will ‘create new opportunities for both multinational and small- and medium-sized enterprise clients,’ Amex GBT says.
At the same time, GBT will expand its long-term accommodations supply agreement with Expedia Partner Solutions (EPS)
The proposed deal is subject to consultation by Expedia Group and Egencia with their applicable employee representatives, as well as customary closing conditions ..
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