Independent CMA inquiry group has cleared the merger of corporate travel companies Global Business Travel Group, Inc and CWT Holdings LLC.
An independent inquiry group leading the in-depth Phase 2 merger investigation into the merger of corporate travel management companies Global Business Travel Group, Inc (GBT) and CWT Holdings LLC (CWT) has decided it should be allowed to proceed.
Both companies supply travel agency services to global businesses with high travel spend and employees who travel internationally.
The group has concluded that CWT is a significantly weaker competitor than in the past and is likely to continue to weaken in the future and that there are other suppliers who will offer customers an alternative to the merged business.
The group is therefore satisfied that the merger is not expected to result in a substantial lessening of competition in the global market for the supply of business travel agency services and has cleared the deal.
Martin Coleman, chair of the independent panel of experts conducting this investigation, said:
Having reviewed all the evidence thoroughly over the course of our investigation we have concluded, given the weaker position CWT plays in the corporate travel market and the alternatives available, that this deal should be allowed to proceed.
