Carlson Buys JPMorgan's Shares in Carlson Wagonlit Travel
Minneapolis-based hospitality company Carlson has bought out JPMorgan Chase & Co.'s 45 percent equity interest in global travel company Carlson Wagonlit Travel, giving Carlson 100 percent ownership. Amsterdam-based CWT, which has offices in 150 countries, specializes in business travel and meetings management. Its clients include a third of the Fortune Global 100 companies. In 2013 CWT generated $26.9 billion in revenue. The transaction, which is subject to regulatory-closing conditions, is expected to be be completed next month. Other Carlson's subsidiary hotel group, Carlson Rezidor Hotel Group, includes the chains Radisson, Radisson Blu and Country Inns and Suites.