American Express to sell 30% stake in Global Business Travel

In a regulatory filing, American Express (AXP) announced that pursuant to Long Lake and General Catalyst’s agreement to acquire Global Business Travel Group, Inc. (GBTG), it will sell its approximately 30% equity interest in GBTG. Upon closing of the transaction, American Express expects to receive proceeds of approximately $1.5B and to recognize a pre-tax gain of approximately $975M. This gain was not factored into the FY 2026 earnings guidance the company previously provided. Consistent with its disciplined capital allocation approach, American Express expects to invest a portion of the gain to position the company for continued success and return a portion of the gain to shareholders. The transaction does not change the companies’ current brand licensing and commercial agreements and their commitment to serving customers.