Global hospitality and travel company Carlson has entered into a definitive agreement to acquire from JPMorgan Chase & Co. (JPMC) the 45% equity interest JPMC indirectly holds in Carlson Wagonlit Travel (CWT).
As a result of this acquisition, Carlson will own 100% of CWT. Financial terms of the transaction were not disclosed. The transaction is expected to close in July, subject to customary closing conditions.
CWT president and CEO Douglas Anderson commented, “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.”