American Express Global Business Travel has acquired the 35% equity share held by Barceló, a minority shareholder, in American Express GBT Spain (GBT Spain).
The deal means GBT Spain is now a wholly-owned subsidiary of American Express GBT.
Luis Dupuy de Lome, general manager, GBT Spain, said: “Our joint venture with Barceló has been a success story since its inception nine years ago. We thank them for their partnership.”
By joining the American Express GBT family, GBT Spain’s customers will continue to benefit from local expertise in addition to the organisation’s global scale and access.
Dupuy de Lome added: “While the joint venture is ending, nothing changes for customers. It is business as usual. This is only a transaction between shareholders. Our staff, brand and value proposition remain the same. Furthermore, we now enjoy the benefit of being wholly owned by American Express GBT.”
The terms of the transaction have not been disclosed.
American Express GBT employs 12,000 people in 120 countries.
