Qatar forms JV with Amex, partners, to form $900m business travel firm

March 20, 2014 2:01 pm

American Express Co (Amex) has agreed with Qatar Investment Authority (QIA), Certares LP, BlackRock Inc. and Macquarie Capital to commit a total of $900m to a business travel joint venture, in what would be the largest single investment ever made in a travel management company, Reuters has reported. QIA will have a bigger stake in the joint venture than the other three investors, according to a person familiar with the matter. Amex will own half of the joint venture.