Carlyle and GIC pull out of deal to acquire stake in AMEX Global Biz Travel: WSJ

The Carlyle Group and GIC have called off their deal to acquire a 20 percent stake in American Express Global Business Travel, reported the Wall Street Journal.

The Carlyle Group and GIC have called off their deal to acquire a 20 percent stake in American Express Global Business Travel, reported the Wall Street Journal. The news outlet noted that the revenue of American Express Global Business Travel had “plummeted as a result of the coronavirus pandemic.” The deal, which was first announced last December, valued the company at $5 billion. Based in Jersey City, New Jersey, American Express Global Business Travel is a travel and meetings program management company.

Source: Wall Street Journal