AmEx, Certares In Talks To Form Biz Travel JV In $1B Deal

Law360, New York (September 25, 2013, 11:35 AM EDT) -- American Express Co. is in talks with a Certares International Bank LLC-led investment group to form a joint venture that would broaden its business travel unit, starting with a cash infusion of up to $1 billion from the prospective partners, the company said Wednesday.

The negotiations have zeroed in on terms that would allow AmEx to hang onto a 50 percent stake in its Global Travel brand, with the rest falling to the Certares consortium in exchange for an investment worth between $700 million and $1...
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