Qantas - Qantas Frequent Flyer
Member since 11 Oct 2014
Total posts 375
American Express Global Business Travel (GBT) has just announced the purchase of Egencia, which will now fulfill the role of AMEX's Global Business Travel division.
Egencia is currently wholly-owned by Expedia and is operated as Expedia's business travel division.
Prior to the Egencia acquisition, the Global Business travel division of American Express was a joint operation where AMEX held a 50% interest with an unspecified partner. The purchase of Egencia will enable AMEX to beef up its Business Travel division.
Expedia will become a shareholder of AMEX GBT and enter into a longterm agreement with the group.
Acquisition costs of the deal between AMEX GBT and Expedia have not been revealed, as yet. Nor has the date of finalisation. However, the merger date can't be too far off, as MarketWatch (which revealed the merger) is also carrying an allied article on the resignation of the Egencia CFO and his subsequent move to a new employer, prior to the divestment.
AMEX currently has a market cap of USD $124.13B and Expedia's market cap is USD $25.46B (as at 4/5/21).
Hi Guest, join in the discussion on
American Express Announces The Purchase Of Egencia
Already have an ET account? Log in below.
Signing up with Executive Traveller only takes a second and lets you
interact with our community. It's completely free and we'll never pass your information on to
Didn’t receive an activation email? Resend one to yourself here.
If you’ve forgotten your password, simply enter your email address
below, then click 'Submit'. We’ll send you an email to re-activate your account and enter a new password.
If you have not received the activation email, simply enter your email address below, then click 'Submit'. We’ll send you an email containing the activation link.
Subscribe to our free newsletter and get the latest news, reviews, tips and more sent straight to your inbox