American Express (AXP) has several plans to boost its overall earnings. It entered a joint venture with Certares to transfer 50% ownership of its low profitable division -- Global Business Travel, or GBT. American Express's GBT division provides various services including travel solutions.
Integration of consulting services, and facilitating end to end meetings and event capabilities. GBT is an important division for American Express, with operations in 138 countries. GBT services are provided to corporate customers that have a travel spend estimate of more than $19 billion a year.
Last month, American Express reported that it will sell 50% of the division to an investor group led by Certares Bank. This group is expected to invest between $700 million and $1 billion to expand the division. After this investment. AXP.
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