Completion of the takeover of CWT by Amex GBT, announced in early 2024, comes less than two months after a legal challenge to the acquisition was dismissed.
The challenge came from the United States Department of Justice, raised because the acquisition would reduce competition in the corporate travel market – in the US, Amex GBT and CWT are two of the three largest players.
The DOJ dismissed its complaint opposing the acquisition in late July.
The transaction put an approximate US$540 million value on CWT.
“Today marks the start of an exciting relationship with CWT customers,” said Amex GBT CEO, Paul Abbott.
“We will listen, build trust and deliver the choice, value and service they expect.
“This acquisition will generate greater investment capacity for our software and services and is expected to create significant shareholder value through efficiency gains.”
Both Amex GBT and CWT have meetings and events arms alongside their corporate travel offerings.
