Private equity firm Carlyle Group LP (CG.O) said on Tuesday it had agreed to buy a stake in credit-card issuer American Express Co’s (AXP.N) corporate travel business, along with a consortium of investors.
A part of the stake owned by the Certares led-investor group would be sold to Carlyle Global Partners, Singapore’s sovereign wealth fund GIC, the University of California Office of the Chief Investment Officer of the Regents and Kaiser Permanente.
The deal values GBT at $5 billion, including debt, The Wall Street Journal said, citing a source familiar with the matter.
Read original article
