American Express Global Business Travel (GBT) is to buy Expedia’s corporate travel division, Egencia, subject to regulatory approvals.

Under the agreement, Expedia Group will become a shareholder in GBT and enter into a long-term strategic commercial partnership with the company.     

GBT CEO Paul Abbott said GBT would continue to invest in Egencia and the deal would ‘create new opportunities for both multinational and small and medium-sized enterprise clients, suppliers and the talented teams within both organisations’.

Expedia Business Services President Ariane Gorin, who oversees Egencia, said: “Expedia Group strongly believes in the robust return of travel, including in the corporate space.”