Amex GBT to Go Public at $5.3 Billion Valuation in Apollo SPAC Deal
Photo Credit: American Express Global Business Travel is to merge with an Apollo Management-backed blank check company. Getty Images / Rawpixel
Skift Take
New investors include Sabre and Zoom — what does that tell you about the future of travel management?
American Express Global Business Travel plans to merge with an Apollo Management-backed blank check company that will take the corporate travel giant public, the company announced Friday.
The merger will value Amex GBT at $5.3 billion, and the transaction will generate the agency up to $1.2 billion, including a $335 million worth of private investment in public equity (PIPE). New investors include Sabre, Zoom, Ares Management Corporation and adviser HG Vora.
Amex GBT also obtained commitments for an additional $1 billion term loan facilit
