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American Express GBT acquires stake in Middle East TMC

August 13, 2019 / PhocusWire

American Express Global Business Travel (GBT) will hold a 65% in a new joint venture with Kanoo Travel, one of the largest travel management networks in the Middle East.Financial terms of the deal – which is expected to close by early 2020 - have not been disclosed.GBT has worked with Kanoo Travel since 1980. The company operates in the United Arab Emirates, Saudi Arabia, Qatar, Bahrain and Oman.“Kanoo Travel has been a trusted, long-term partner for GBT in the region for many years and is known and respected by many of our clients,” says Elyes Mrad, GBT’s managing director, international