DivestmentMay 4, 2026, 07:41 AM
American Express to sell GBTG stake for $1.5B; expects $975M gain
AI Summary
American Express Company announced it will sell its approximately 30% equity interest in Global Business Travel Group, Inc. (GBTG) as part of Long Lake and General Catalyst's agreement to acquire GBTG. Upon closing, American Express expects to receive approximately $1.5 billion in proceeds and recognize a pre-tax gain of approximately $975 million, which was not factored into its FY 2026 earnings guidance. The company plans to invest a portion of this gain and return a portion to shareholders, while existing brand licensing and commercial agreements with GBTG will remain in effect.
Key Highlights
- American Express to sell its approximately 30% equity interest in Global Business Travel Group, Inc. (GBTG).
- Expects to receive proceeds of approximately $1.5 billion from the sale.
- Anticipates recognizing a pre-tax gain of approximately $975 million.
- The pre-tax gain was not included in the previously provided FY 2026 earnings guidance.
- Plans to invest a portion of the gain and return a portion to shareholders.
- Current brand licensing and commercial agreements with GBTG remain unchanged.