Carlson to Acquire Full Ownership of Carlson Wagonlit Travel
23 JUNE, 2014
Carlson, a global hospitality and travel company, today announced that it has entered into a definitive agreement to acquire from JPMorgan Chase & Co. (“JPMC”), the 45 percent equity interest JPMC indirectly holds in Carlson Wagonlit Travel (CWT). As a result of this acquisition, Carlson will own 100 percent of CWT. Financial terms of the transaction were not disclosed. The transaction is expected to close in July 2014, subject to customary closing conditions.
Further statement from CWT president & CEO Douglas Anderson: “CWT remains committed to delivering the best in innovative products and technology, combined with unbeatable customer service. We have a focused strategy in place to provide what travelers and travel managers need at every stage of the travel process today and into the future, and will continue to invest to bring this vision to life with the support of the Carlson organization.”
CWT is a global leader specialized in managing business travel and meetings and events. CWT serves companies, government institutions and non-governmental organizations of all sizes in more than 150 countries and territories. By leveraging both the expertise of its people and leading-edge technology, CWT helps clients derive the greatest value from their travel program in terms of savings, service, security and sustainability. The company is also committed to providing best-in-class service and assistance to travelers. In 2013, sales volume for wholly owned operations and joint ventures totaled US$26.9 billion. As part of its commitment to responsible business, CWT is a signatory of the United Nations Global Compact Ten Principles. For more information about CWT, please visit our global website at www.carlsonwagonlit.com. Follow us on Twitter @CarlsonWagonlit.