American Express (NYSE:AXP) is divesting its 30% stake in Global Business Travel Group as part of a US$6.3b take private deal. The transaction is expected to generate substantial cash proceeds and a pre tax gain for American Express. American Express plans to keep its long term brand and commercial partnerships with Global Business Travel Group after the deal closes. This move comes as American Express continues to focus on its core payments, cards, and network businesses, while still...
