Amex GBT Reportedly Considering Sale After Stock Market Struggles

American Express Global Business Travel (Amex GBT) is reportedly exploring a potential sale “after a tough run on the stock market,” according to a Bloomberg report citing people familiar with the matter.

The travel management giant is said to be working with advisers and may draw interest from other corporate travel platforms as well as private equity firms. Sources caution, however, that a sale is not guaranteed.

Amex GBT declined to comment, telling BTN Europe that it does not respond to merger and acquisition rumors or speculation.

Shares of Amex GBT closed at $7.32 yesterday—up 3% for the day but down 20% from $9.16 at the start of the year.

The company’s Q3 earnings showed strong growth boosted by its acquisition of CWT. Revenue climbed 13% year over year to $674 million, while transactions rose 19%. Excluding CWT’s contribution, revenue increased 3% and transactions 4%, results the company said were in line with expectations.

Total transaction value reached $9.5 billion in Q3, up 23% year over year with CWT included, or 9% excluding CWT.

Amex GBT went public in May 2022 through a SPAC merger with Apollo Strategic Growth Capital. In September, it completed its $540 million acquisition of CWT—17 months after first announcing the deal—and has begun pursuing $155 million in expected synergies over the next three years.

In October, the company announced a strategic alliance with SAP Concur to launch a new joint platform called Complete, a development that has prompted travel managers and competitors to reassess their long-term strategies.

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Amex GBT Reportedly Considering Sale After Stock Market Struggles

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