Amex GBT forming joint venture with Gulf partner Kanoo - TravelMole


Amex GBT forming joint venture with Gulf partner Kanoo

Tuesday, 13 Aug, 2019 0

American Express Global Business Travel (GBT), has signed a definitive agreement to acquire a controlling stake in Kanoo Travel, one of the largest travel management networks in the Middle East.

GBT will form a joint venture with parent company YBA Kanoo Group to provide managed travel and events services to clients in the Middle East.

Kanoo Travel, which has been a key member of GBT’s global travel partner network for many years, operates in the United Arab Emirates, Saudi Arabia, Qatar, Bahrain and Oman. The transaction is subject to receipt of regulatory approvals and customary conditions and is expected to close in Q4 2019 or early Q1 2020.

GBT will hold 65% of the new joint venture, headquartered in Dubai, and assume management and operational control of the business and its 539 employees.

YBA Kanoo Group will hold the remaining 35% stake in the joint venture.

Elyes Mrad, GBT’s Managing Director, International, said: "Kanoo Travel has been a trusted, long-term partner for GBT in the region for many years and is known and respected by many of our clients.

"The creation of the joint venture will enhance how we service those clients and their travelers by combining Kanoo’s region-specific expertise with the backing of GBT’s global scale and technology."

 



Related News Stories:  



 

profileimage

Lisa

Lisa joined Travel Weekly nearly 25 years ago as technology reporter and then sailed around the world for a couple of years as cruise correspondent, before becoming deputy editor. Now freelance, Lisa writes for various print and web publications, edits Corporate Traveller’s client magazine, Gateway, and works on the acclaimed Remembering Wildlife series of photography books, which raise awareness of nature’s most at-risk species and helps to fund their protection.



Most Read

Bubba O’Keefe on Clarksdale’s Vibrant Music Scene

Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee

Craig Ray and the Expansion of the Blues Trail

Presenting Mississippi’s Cultural Trails with Katie Coats

Robert Terrell: A Journey Through BB King’s Influence

Rochelle Hicks: Celebrating Mississippi’s Musical Legacy

Exploring Jacksonville with Katie Mitura: The Flip Side of Florida

Tricia Handley-Hughes of Inteletravel announces the location for the TravelQuest 2025 conference

Insights from James Ferrara on Inteletravel’s Growth and Future

Tricia Handley-Hughes on Inteletravel’s Growth and Challenges

Tony from Gatto’s Pizza on Columbus’s Unique Pizza Trail

Sophia Hyder Hock on Global Social Inclusion in Tourism
TRAINING & COMPETITION

Our emails to you has bounced travelmole.com Or You can change your email from your profile Setting Section

Your region selection will be saved in your cookie for future visits. Please enable your cookie for TravelMole.com so this dialog box will not come up again.

Price Based Country test mode enabled for testing United States (US). You should do tests on private browsing mode. Browse in private with Firefox, Chrome and Safari

true