American Express Commits 30.1% Stake in Global Business Travel Group to Merger Agreement

American Express Company filed a Schedule 13D/A regarding its 30.1% stake in Global Business Travel Group, Inc. (GBTG). This amendment highlights a significant corporate development: on May 2, 2026, American Express (through Amex HoldCo.) entered into a Voting and Support Agreement with Global Business Travel Group, Gaia Purchaser, Inc. (Parent), and Gaia Merger Sub, Inc. in connection with a definitive Merger Agreement. Under the terms of the agreement, American Express has committed to voting its 157,786,199 shares in favor of the merger and has agreed to restrictions on transferring its securities during the pendency of the transaction. Upon the successful closing of the merger, which remains subject to regulatory approvals and customary conditions, American Express expects to dispose of its entire holdings in the company. Additionally, the existing Shareholders Agreement is set to terminate upon the closing of the merger. This filing marks a transition toward a full exit of the investment via the proposed acquisition of the issuer.