American Express Global Business Travel Announces Simplification of Corporate Structure
10 Julio 2023 - 3:49PM
Business Wire
Elimination of UP-C Structure Anticipated to
Improve Market Data Integrity, Increase Weighting on Indices,
Eliminate Barriers to Increased Holdings and Reduce Costs
American Express Global Business Travel, which is operated by
Global Business Travel Group, Inc. (NYSE: GBTG) (“Amex GBT” or the
“Company”), the world’s leading B2B travel platform, today
announced that the Company has entered into a series of
transactions that simplify its organizational structure by
eliminating the Company’s umbrella partnership-C corporation
(“UP-C”) structure (the “Corporate Simplification”).
As a result of the Corporate Simplification, all of the
Company’s stockholders now hold the same class of common stock,
Class A common stock. The Company anticipates that simplifying its
organizational structure through the Corporate Simplification will
improve market data integrity, increase the Company’s weighting on
certain indices, eliminate barriers to increased holdings of the
Company’s Class A common stock by certain investors, and reduce
administrative and tax compliance costs.
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.
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that are forward-looking
and as such are not historical facts. This includes, without
limitation, statements regarding our financial position, weighting
on indices and barriers to holding our Class A common stock. These
statements constitute projections, forecasts and forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. The words “anticipate,” “believe,” “continue,”
“could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,”
“possible,” “potential,” “predict,” “project,” “should,” “will,”
“would” and similar expressions may identify forward-looking
statements, but the absence of these words does not mean that a
statement is not forward-looking.
The forward-looking statements contained in this press release
are based on our current expectations and beliefs concerning future
developments and their potential effects on us. There can be no
assurance that future developments affecting us will be those that
we have anticipated. These forward-looking statements involve a
number of risks, uncertainties (some of which are beyond our
control) or other assumptions that may cause actual results or
performance to be materially different from those expressed or
implied by these forward-looking statements. These risks and
uncertainties include, but are not limited to, the following risks,
uncertainties and other factors: (1) changes to projected financial
information or our ability to achieve our anticipated growth rate
and execute on industry opportunities; (2) our ability to maintain
our existing relationships with customers and suppliers and to
compete with existing and new competitors; (3) various conflicts of
interest that could arise among us, affiliates and investors; (4)
our success in retaining or recruiting, or changes required in, our
officers, key employees or directors; (5) factors relating to our
business, operations and financial performance, including market
conditions and global and economic factors beyond our control; (6)
the impact of the COVID-19 pandemic, geopolitical conflicts and
related changes in base interest rates, inflation and significant
market volatility on our business, the travel industry, travel
trends and the global economy generally; (7) the sufficiency of our
cash, cash equivalents and investments to meet our liquidity needs;
(8) the effect of a prolonged or substantial decrease in global
travel on the global travel industry; (9) political, social and
macroeconomic conditions (including the widespread adoption of
teleconference and virtual meeting technologies which could reduce
the number of in-person business meetings and demand for travel and
our services); (10) the effect of legal, tax and regulatory
changes; (11) the decisions of market data providers, indices and
individual investors; and (12) other risks and uncertainties
described in the Company’s Form 10-K, filed with the SEC on March
21, 2023, and in the Company’s other SEC filings. Should one or
more of these risks or uncertainties materialize, or should any of
our assumptions prove incorrect, actual results may vary in
material respects from those projected in these forward-looking
statements. We undertake no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required under
applicable securities laws.
Disclaimer
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230710760156/en/
Media: Martin Ferguson Vice President Global Communications and
Public Affairs martin.ferguson@amexgbt.com
Investors: Barry Sievert Vice President Investor Relations
investor@amexgbt.com
Global Business Travel (NYSE:GBTG)
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