Amex travel arm to go public in $5.3B SPAC deal - report

Friday, 03. December 2021 13:24

American Express Global Business Travel, half of which is owned by American Express (Amex), will go public via a merger with a special-purpose acquisition company (SPAC) backed by Apollo Global Management Inc., The Wall Street Journal reported on Friday, citing people familiar with the matter.

The deal, worth approximately $5.3 billion, could be unveiled later during the day, the report explained.

Amex Global Business Travel separated from American Express in 2014, after the latter sold 50% of the stake to a group of investors.

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