MINNEAPOLIS—Carlson has completed the acquisition from JPMorgan Chase & Co. for the 45% equity interest the company indirectly held in Carlson Wagonlit Travel (CWT). Financial terms of the transaction were not disclosed.
“With the close of this acquisition, Carlson secures full ownership of the global leader in travel management,” stated Carlson President and CEO Trudy Rautio. “We have been pleased with CWT’s past performance and are excited by its potential for continued growth and value creation.”
CWT specializes in business travel and meetings management, and employs nearly 19,000 people worldwide spanning more than 150 countries and territories. CWT’s clients include one-third of the Fortune Global 100 companies, as well as small and mid-sized companies, government institutions and non-governmental organizations. In 2013, CWT generated traffic of $26.9 billion, according to the company.