American Express Global Business Travel, a joint venture partially owned by the credit-card giant, is planning to acquire Egencia, Expedia Group Inc.’s corporate-travel arm. Expedia will become a shareholder in and enter into a long-term commercial agreement with AmEx Global Business Travel as part of the agreement, the two companies said in a statement Tuesday. Financial terms of the deal weren’t disclosed. Expedia’s ownership stake in AmEx Global Business Travel would come after the private equity giant Carlyle Group Inc. reneged on buying a 20 per cent stake in the joint venture in the wake of the COVID-19 pandemic.
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