December 17, 2019 / 5:16 PM / a month ago

Carlyle-led investor group to buy stake in AmEx's corporate travel business

Dec 17 (Reuters) - Private equity firm Carlyle Group LP said on Tuesday it had agreed to buy a stake in credit-card issuer American Express Co’s corporate travel business, along with a consortium of investors.

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 investor group would be sold to a consortium including Carlyle Global Partners and GIC.

The terms of the deal were not disclosed. (Reporting by Bharath Manjesh in Bengaluru; Editing by Shinjini Ganguli)

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