Is Amex GBT Up for Sale? Possible Shake-Up in Corporate Travel

According to Bloomberg, Amex GBT has hired financial advisors to assess whether strategic buyers or private equity firms might be interested in acquiring the company.

This news comes less than three months after Amex GBT finalized its $540 million acquisition of CWT, a deal that drew scrutiny from both UK and US antitrust regulators because of its potential impact on competition in the corporate travel sector.

Amex GBT is reportedly considering a sale, signaling that one of the world’s largest travel management companies may be preparing for a significant shift in ownership or organizational structure.

A key factor behind this exploration could be the company’s challenging market environment. Over the past year, its stock price has fallen roughly 23 percent, reflecting investor concerns about growth, integration costs, and broader economic headwinds affecting corporate travel.

However, discussions around a possible sale are still in early stages. There is no guarantee that Amex GBT will move forward with a transaction, and the company could ultimately choose to remain independent.

Any sale would need to account for Amex GBT’s ownership model. American Express currently holds a 30.1 percent stake, which adds additional strategic, financial, and regulatory layers to any potential change in ownership.

The transaction will influence how Amex GBT collaborates with American Express going forward, given the parent company’s significant stake and longstanding commercial ties.

If a sale does occur, the buyer could significantly reshape the company. New ownership might bring fresh capital for product innovation, potential acquisitions, or restructuring. Alternatively, a buyer could focus on reducing costs to improve profitability.

Although Amex GBT continues to operate at a net loss, its recent earnings show improvement. The net loss narrowed from $128 million in Q3 2024 to $62 million in Q3 2025, signaling steady progress toward profitability.