Global Business Travel Group, Inc. (Amex GBT) has completed its acquisition by Long Lake Management in an all-cash transaction valued at approximately $6.3 billion.
The deal, first announced in May this year, was approved by Amex GBT stockholders at a Special Meeting of Stockholders held last month.
Rumours had began to circulate at the end of 2025 that the travel management giant was looking for a sale. The transaction brings to a close four years of Amex GBT being a public company.
Under the terms of the merger agreement, Amex GBT stockholders received $9.50 per share in cash, representing a 65.1% premium to the 30-day volume-weighted average price from the date of the merger agreement. Amex GBT common stock has now ceased trading and been delisted from the New York Stock Exchange, and the company will operate as a privately held business.
The transaction is being financed with a combination of equity from Long Lake’s existing investors and Koch Equity Development LLC, the principal investment and acquisition arm of Koch, Inc, alongside committed debt financing.
Paul Abbott, Chief Executive Officer of Amex GBT, said: “Our customers are the centre of everything we do. This milestone brings Long Lake’s leading AI engineering team into Amex GBT, accelerating the pace at which we shape the future of managed travel. From agentic customer tools to AI-empowered travel counsellors, our customers can expect continuous innovation that will make the service they already trust faster, smarter, and more personalised.”
Alex Taubman, Co-Founder and CEO of Long Lake, said: “For over a century, Amex GBT has earned the trust of the world’s most important companies, governments, and institutions, by showing up for millions of travellers in mission-critical moments. It is an honour for Long Lake to have the opportunity to partner with Amex GBT to double down on its world-class customer excellence, and to invest heavily to advance the frontier of AI deployment in the travel experience.”
