American Express Global Business Travel has acquired Barcelo’s 35 per cent stake in the TMC’s Spanish subsidiary.
The deal means that GBT Spain will now become a wholly-owned part of American Express GBT – the TMC added that terms of the purchase will “remain undisclosed”.
Luis Dupuy de Lome, general manager of GBT Spain, said: “Our joint venture with Barcelo has been a success story since its inception nine years ago. We thank them for their partnership.
“While the joint venture is ending, nothing changes for customers. It is business as usual. This is only a transaction between shareholders.
“Our staff, brand and value proposition remain the same. Furthermore, we now enjoy the benefit of being wholly owned by American Express GBT.”