The Company’s common stock will trade on the
NYSE under ticker symbol “GBTG” beginning on May 31, 2022
Listing highlights momentum of business travel
recovery and Company’s industry leadership position
American Express Global Business Travel (“Amex GBT” or the
“Company”), the world’s leading B2B travel platform, today
announced that it will begin trading as a public company on the New
York Stock Exchange (“NYSE”) under ticker symbol “GBTG” on May 31,
2022.
Paul Abbott, Amex GBT’s Chief Executive Officer, said: “Today
marks a significant milestone in the business travel industry
recovery and for Amex GBT. With strategic initiatives over the last
few years, including complementary accretive acquisitions, product
and technology enhancements and lasting cost reductions, we have
confidence that we are very well positioned to win a larger portion
of the $1.4 trillion business travel market. As a publicly traded
company, we will have the flexibility to further accelerate our
growth strategy.
“Trading as a public company follows years of work to strengthen
our market leadership position. While listing our company is an
achievement, it also marks the beginning of a new phase of growth
paired with a focus on delivering long-term shareholder value as
the world’s largest publicly traded B2B travel platform.”
Amex GBT has become a publicly traded company following the
completion of its previously announced business combination with
Apollo Strategic Growth Capital (NYSE: APSG, APSG.U, APSG WS)
(“APSG”), which was approved by APSG shareholders on May 25, 2022,
and closed on May 27, 2022. Concurrently with the closing of the
business combination, the Company received proceeds from cash in
trust and PIPE investments, including sizable investments by
strategic investors Zoom and Sabre, and new investors Apollo, Ares
and HG Vora. These investors join American Express Company,
Certares and Expedia Group, which remain invested in the Company.
The Class A common stock and warrants of the newly combined
company, Global Business Travel Group, Inc., will trade on the NYSE
under the new ticker symbols “GBTG” and “GBTG WS”, respectively,
beginning on May 31, 2022.
About American Express Global Business Travel
American Express Global Business Travel is the world’s leading
B2B travel platform, providing software and services to manage
travel, expenses, and meetings & events for companies of all
sizes. We have built the most valuable marketplace in B2B travel to
deliver unrivalled choice, value and experiences. With travel
professionals in more than 140 countries, our customers and
travelers enjoy the powerful backing of American Express Global
Business Travel.
Visit amexglobalbusinesstravel.com for more information about
Amex GBT. Follow @amexgbt on Twitter, LinkedIn and Instagram.
“American Express,” “Amex,” “powerful backing” and the American
Express logo are trademarks or service marks of, and the property
of, American Express Company or its subsidiaries (American
Express). GBT Travel Services UK Limited (GBT UK) and its
authorized sublicensees use the American Express trademarks and
service marks in the “American Express Global Business Travel”
brand and in connection with its business under a limited license
from American Express. GBT UK is a subsidiary of Global Business
Travel Group, Inc. American Express holds a minority interest in
Global Business Travel Group, Inc., which operates as a separate
company from American Express. As such, an investment in Global
Business Travel Group, Inc. is not an investment in American
Express. American Express shall not be responsible in any manner
whatsoever for, and in respect of, the statements herein, all of
which are made solely by Global Business Travel Group, Inc.
Forward-Looking Statements
This press release contains certain “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995, Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. All
statements other than statements of historical fact contained in
this press release, including those related to travel recovery,
market size and growth opportunities, are forward-looking
statements. Some of these forward-looking statements can be
identified by the use of forward-looking words, including
“anticipate,” “expect,” “suggests,” “plan,” “believe,” “intend,”
“estimates,” “targets,” “predicts,” “projects,” “should,” “could,”
“would,” “may,” “will,” “continue,” “forecast” or other similar
expressions. All forward-looking statements are based upon
estimates and forecasts and reflect the views, assumptions,
expectations, and opinions of the Company as of the date of this
press release, and may include, without limitation, changes in
general economic conditions as a result of COVID-19, all of which
are accordingly subject to change. Any such estimates, assumptions,
expectations, forecasts, views or opinions set forth in this press
release should be regarded as indicative, preliminary and for
illustrative purposes only and should not be relied upon as being
necessarily indicative of future results.
The forward-looking statements contained in this press release
are subject to a number of factors, risks and uncertainties, some
of which are not currently known to the Company. You should
carefully consider the risks and uncertainties described in the
“Risk Factors” section of the registration statement on Form S-4
filed by APSG with the SEC, which was declared effective by the SEC
on May 4, 2022, the proxy statement/prospectus and other documents
filed or that may be filed by the Company from time to time with
the SEC. These filings identify and address other important risks
and uncertainties that could cause actual events and results to
differ materially from expected results contained in the
forward-looking statements. Most of these factors are outside the
Company’s control and are difficult to predict. Factors that may
cause such differences include, but are not limited to: (1) the
outcome of any legal proceedings that may be instituted against the
Company following the completion of the business combination; (2)
the inability to recognize the anticipated benefits of the business
combination, which may be affected by, among other things,
competition, the ability of the Company to grow and manage growth
profitably, maintain relationships with customers and suppliers and
retain key employees; (3) changes in the applicable laws or
regulations; (4) the possibility that the Company may be adversely
affected by other economic, business, and/or competitive factors;
(5) the ongoing impact of the global COVID-19 pandemic; and (6)
other risks and uncertainties described in the Company’s filings
with the SEC. The Company cautions that the foregoing list of
factors is not exclusive and not to place undue reliance upon any
forward-looking statements, which speak only as of the date
made.
The Company does not undertake or accept any obligation to
release publicly any updates or revisions to any forward-looking
statements to reflect any change in its expectations or any change
in events, conditions or circumstances on which any such statement
is based, except as required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220527005323/en/
Media: Martin Ferguson Vice President Global Communications and
Public Affairs, American Express Global Business Travel
martin.ferguson@amexgbt.com
Investors: Barry Sievert Vice President Investor Relations,
American Express Global Business Travel investor@amexgbt.com
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