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American Express in talks to sell half of business travel unit
September 25, 2013 / 12:37 PM / 4 years ago

American Express in talks to sell half of business travel unit

Sept 25 (Reuters) - American Express Co said it is in talks with an investor group led by Certares to create a joint venture that would run the credit card company’s business travel division.

The investor group will invest between $700 million and $1 billion in the joint venture for a 50 percent stake, AmEx said in a statement.

AmEx’s consumer travel business would not be a part of the proposed deal, the company said.

Certares is a firm headed by senior management with significant experience in the travel industry, AmEx said.

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