American Express Global Business Travel, a global B2B platform, has entered a merger agreement with a SPAC backed by Apollo Global Management Inc.
The combination will create a publicly traded B2B platform that will list on the NYSE under the ticker code “GBTG” which will accelerate growth strategy and provide additional capital to the combined entity.
“Becoming a public company will be a historic milestone on GBT’s growth journey,” said Paul Abbot, GBT CEO. “Commitments from new investors like Zoom, Sabre, Apollo, Ares and HG Vora are a huge vote of confidence in our business and the future of business travel, and meetings and events.”
“American Express Global Business Travel is an industry leader with an incredible brand, strong management team and highly strategic shareholder base,” added Itai Wallach, Apollo partner. “This combination is an exciting and unique opportunity to support a leading company with strong staying power and the opportunity to accelerate its growth as a public company.”