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CWT finalises Navigant takeover
Carlson Wagonlit Travel’s acquisition of TQ3Navigant has been finalised after gaining regulatory approval.
The deal doubles the size of CWT in North America and expands its presence in Asia Pacific through Navigant operations in Australia and New Zealand.
Integration between the two companies will now be accelerated, CWT said. Staff, suppliers and clients who were formerly associated with Navigant will begin to see their day-to-day activities gradually combined with those of CWT, the world’s second largest travel management company.
Coinciding with the Navigant takeover is the finalisation of the acquisition of Accor’s 50% stake in CWT by Carlson Companies and One Equity Partners (OEP). Carlson’s shareholding in CWT increases to 55%, with OEP holding the remaining 45%.
CWT president and CEO Hubert Joly said: “Months of effort have made this transaction a reality. Now, we are eager to work with the clients and employees of what was formerly Navigant and we look forward to realising the combined potential of these two corporate travel leaders.”
Carlson Companies chairman and CEO Marilyn Carlson Nelson said: “Today marks an exciting step forward for the two companies and the travel industry.
“Travel and travel management services have been a core business for Carlson since the 1970s and, as the new majority shareholder of CWT, we are delighted to be playing an even more influential role in the business travel management industry.
“Clients around the world will benefit from our combined talent and expanded resources as we work together to anticipate and further serve their needs.”
Report by Phil Davies
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