New York–(work wireAmerican Express Global Business Travel (“Amex GBT” or “the Company”), the world’s leading B2B travel platform, announced today that it will begin trading as a public company on the New York Stock Exchange (“NYSE”) under the ticker symbol “GBTG” on May 31, 2022.
Paul Abbott, CEO of Amex GBT said:Today marks an important milestone in the recovery of the business travel industry and for GBT AMEX. With strategic initiatives over the past few years, including complementary cumulative acquisitions, product and technology improvements, and permanent cost reductions, we are confident 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 accelerate our growth strategy.
“Trading as a public company follows years of work to consolidate our leadership position in the market. While the inclusion of our company is an achievement, it also marks the beginning of a new phase of growth coupled with a focus on delivering long-term shareholder value as the largest publicly traded B2B travel platform in the world.”
Amex GBT became a publicly traded company after completing the previously announced business combination with Apollo Strategic Growth Capital (NYSE: APSG, APSG.U, APSG WS) (“APSG”), which was approved by APSG shareholders in May 25, 2022, and closed May 27, 2022. In conjunction with the closing of the business combination, the company received proceeds from cash and PIPE investments, including significant investments by strategic investors Zoom and Saber, and new investors Apollo, Ares and HG Vora. These investors join American Express Company, Certares and Expedia Group, which are still invested in the company. Class A common stock and warranties of the newly merged company, Global Business Travel Group, Inc. , on the New York Stock Exchange under the new symbols “GBTG” and “GBTG WS”, respectively, effective 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 for travel, expense, meeting and event management for businesses of all sizes. We’ve built the most valuable marketplace in B2B travel to offer choices, value, and unparalleled experiences. With travel professionals in more than 140 countries, our clients and travelers enjoy strong support from American Express Global Business Travel.
Visit amexglobalbusinesstravel.com for more information on Amex GBT. Follow @amexgbt on Twitterand LinkedIn and Instagram.
“American Express,” “Amex,” “strong support,” and the American Express logo are trademarks or service marks of American Express Company or its affiliates (American Express) and its properties. American Express trademarks and service marks are used by GBT Travel Services UK Limited (GBT UK) and its authorized sublicensees in the “American Express Global Business Travel” trademark and in connection with their business under a limited license from American Express. GBT UK is a subsidiary of Global Business Travel Group, Inc. American Express owns a minority stake in Global Business Travel Group, Inc. , which operates as a separate company from American Express. As such, the investment in Global Business Travel Group, Inc. Not an investment in American Express. American Express shall not be liable in any way for and in connection with the statements herein, all of which have been prepared by Global Business Travel Group, Inc.
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 Exchange Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts contained in this press release, including those regarding travel recovery, market size and growth opportunities, are forward-looking statements. Some of these forward-looking statements may be identified by the use of forward-looking words, including “expect,” “expect,” “suggest,” “plan,” “believe,” “intend,” “estimate,” “goals,” “expects,” “project,” “should,” “could,” “will,” “may,” “will,” “continue,” “predict” or other similar expressions. All forward-looking statements are based on estimates and expectations and reflect views, assumptions, expectations and opinions. Company as of the date of this press release, and may include, but is not limited to, changes in general economic conditions as a result of COVID-19, all of which are subject to change accordingly.Any such estimates, assumptions, projections, projections, opinions, or opinions expressed This press release is provided as indicative and preliminary and for illustrative purposes only and should not be relied upon as 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 Securities and Exchange Commission, which was announced by the SEC on May 4, 2022, proxy statement/prospectus. Issuance and other documents filed or which the Company may file from time to time with the Securities and Exchange Commission. These filings identify and address other significant risks and uncertainties that could cause actual events and results to differ materially from the 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: (i) as a result of any legal action that may be brought against the Company after the completion of the business combination; (ii) the inability to recognize the expected benefits of a business combination, which may be affected, among other things, by competition, the company’s ability to grow and manage growth profitably, maintain relationships with customers and suppliers and retain key employees; (3) changes in applicable laws or regulations; (iv) the possibility that the company will be adversely affected by other economic, commercial and/or competitive factors; (5) the continuing impact of the global COVID-19 pandemic; and (6) other risks and uncertainties described in the company’s filings with the Securities and Exchange Commission. The company cautions that the foregoing list of factors is not exhaustive and does not unduly rely on any forward-looking statements, which speak only as of the date specified.
The Company does not undertake or accept any obligation to publicly disclose any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, circumstances or conditions on which any statement is based, except as required by law.