Carlson takes full ownership of CWT.
19 August 2014 - US hospitality and travel company Carlson said it had completed the purchase of the 45% stake it did not own in Carlson Wagonlit Travel SAS (CWT) from US financial services major JPMorgan Chase & Co (NYSE:JPM).
Financial details were not provided in the statement. Following the transaction, Carlson has secured full ownership of the business travel and meetings management firm, said Carlson president and chief executive Trudy Rautio.
Carlson believes that CWT has the potential to grow further while addressing the needs of travellers, Rautio added.
CWT operates in over 150 countries and among its clients are a third of the Fortune Global 100 firms, with many small and medium-sized businesses, governments and non-governmental organisations also employing its services, the buyer commented. CWT generated traffic of USD26.9bn (EUR22.1bn) last year.
Sector: Business and Consumer Services
Target: Carlson Wagonlit Travel SAS
Vendor: JPMorgan Chase & Co
Type: Corporate acquisition
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|Publication:||M & A Navigator|
|Date:||Aug 19, 2014|
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