Published on : Tuesday, August 19, 2014
Carlson, a global hospitality and travel company, today announced the completion of the acquisition from JPMorgan Chase & Co. (“JPMC”) for the 45 percent equity interest JPMC indirectly held in Carlson Wagonlit Travel (CWT). Financial terms of the transaction were not disclosed.
“With the close of this acquisition, Carlson secures full ownership of the global leader in travel management,” said Carlson President and CEO Trudy Rautio. “We have been pleased with CWT’s past performance and are excited by its potential for continued growth and value creation.”
CWT is a global leader specializing in business travel and meetings management. CWT works with clients to respond to the complexities and challenges of business travel management while addressing the needs and expectations of travelers.
CWT employs nearly 19,000 people worldwide spanning more than 150 countries and territories. CWT’s clients include one-third of the Fortune Global 100 companies. In addition, it has a diverse client portfolio ranging from small and mid-sized companies, to government institutions and non-governmental organizations. In 2013, CWT generated traffic of $26.9 billion.