CARLSON Wagonlit Travel (CWT) will belong wholly to global hospitality and travel company Carlson by next month.
Carlson yesterday announced that it has entered an agreement with JPMorgan Chase & Co to purchase the latter’s 45 per cent equity interest in CWT, which it holds indirectly.
The acquisition brings Carlson’s stake in the business travel and meetings management specialist to 100 per cent.
Trudy Rautio, president and CEO of Carlson, said: “We are pleased with the momentum, growth and results realised by the management team at CWT. This acquisition, along with our ongoing investment in Carlson Rezidor Hotel Group and its family of brands, helps solidify our long-term direction for the company.”
While financial terms of the transaction were not released, a statement by Carlson said the transaction is expected to close in July 2014, subject to customary closing conditions.
