American Express Global Business Travel , which helps employees of companies with their travel arrangements, was a wholly-owned unit of AmEx until 2014 when it sold half its stake to a group of investors led by investment firm Certares LP.
A part of the stake owned by the Certares led-investor group would be sold to Carlyle Global Partners, Singapore’s sovereign wealth fund GIC, the University of California Office of the Chief Investment Officer of the Regents and Kaiser Permanente.The deal values GBT at $5 billion, including debt, The Wall Street Journal saidReporting by Bharath Manjesh in Bengaluru; Editing by Shinjini Ganguli
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