{"id":14975,"date":"2019-08-14T13:14:16","date_gmt":"2019-08-14T09:14:16","guid":{"rendered":"https:\/\/www.middleeastevents.com\/blog\/?p=14975"},"modified":"2019-08-14T13:14:16","modified_gmt":"2019-08-14T09:14:16","slug":"american-express-global-business-travel-to-form-middle-east-joint-venture","status":"publish","type":"post","link":"https:\/\/www.middleeastevents.com\/blog\/american-express-global-business-travel-to-form-middle-east-joint-venture\/","title":{"rendered":"American Express Global Business Travel To Form Middle East Joint Venture"},"content":{"rendered":"<p>American Express Global Business Travel (GBT), the world\u2019s leading business partner for managed travel, has entered into a definitive agreement to acquire a controlling stake in Kanoo Travel, one of the largest travel management networks in the Middle East. \u00a0GBT will form a joint venture with Kanoo Travel to provide managed travel and events services to clients in the Middle East. Kanoo Travel, which has been a key member of GBT\u2019s global travel partner network for many years, operates in the United Arab Emirates, Saudi Arabia, Qatar, Bahrain and Oman. The transaction is subject to receipt of regulatory approvals and customary conditions and is expected to close in Q4 2019 or early Q1 2020.<\/p>\n<p>GBT will hold 65% of the new joint venture, headquartered in Dubai, and assume management and operational control of the business. YBA Kanoo Group, Kanoo Travel\u2019s mother company will hold the remaining 35% stake in the joint venture.<\/p>\n<p>Elyes Mrad, GBT\u2019s Managing Director, International, said: \u201cKanoo 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. The creation of the joint venture will enhance how we service those clients and their travelers by combining Kanoo Travel\u2019s region-specific expertise with the backing of GBT\u2019s global scale and technology.\u201d<\/p>\n<p>Nabeel Khalid Kanoo, President of Kanoo Travel, said: \u201cGBT\u2019s global clients, many of whom we already service, stand to benefit from a more consistent global offering because of this JV. Our own clients in the Middle East will profit in the long term from having access to GBT\u2019s total travel and expense eco-system, proprietary technology and global reach. Our people are also excited by the possibilities that come with being part of the world\u2019s most recognizable business travel brand.\u201d<\/p>\n<p>\u201cFor more than 70 years, Kanoo Travel has provided innovative travel management solutions across the region. Backed by one of the largest independent, family-owned companies in the Gulf, YBA Kanoo, Kanoo Travel offered dependable, compliance-driven, and cost effective services that exceed customers\u2019 expectations. Now, we take our services and excellence a step further by joining our long-term partners GBT in becoming a truly global network\u201d Nabeel Kanoo added.<\/p>\n<p>The financial terms of the deal are undisclosed.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-14976\" src=\"https:\/\/www.middleeastevents.com\/blog\/wp-content\/uploads\/2019\/08\/2-4.jpg\" alt=\"\" width=\"240\" height=\"240\" srcset=\"https:\/\/www.middleeastevents.com\/blog\/wp-content\/uploads\/2019\/08\/2-4.jpg 240w, https:\/\/www.middleeastevents.com\/blog\/wp-content\/uploads\/2019\/08\/2-4-150x150.jpg 150w\" sizes=\"auto, (max-width: 240px) 100vw, 240px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>American Express Global Business Travel (GBT), the world\u2019s leading business partner for managed travel, has entered into a definitive agreement to acquire a controlling stake in Kanoo Travel, one of the largest travel management networks in the Middle East. \u00a0GBT will form a joint venture with Kanoo Travel to provide managed travel and events services [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14976,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-14975","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/posts\/14975","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/comments?post=14975"}],"version-history":[{"count":1,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/posts\/14975\/revisions"}],"predecessor-version":[{"id":14977,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/posts\/14975\/revisions\/14977"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/media\/14976"}],"wp:attachment":[{"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/media?parent=14975"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/categories?post=14975"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/tags?post=14975"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}