Global Business Travel Group, Inc. (GBTG) has completed its acquisition by Long Lake Management, transitioning the company from a publicly traded entity to a private entity. The transaction was finalized on September 29, 2026, following the execution of an Agreement and Plan of Merger dated May 2, 2026.
Under the terms of the deal, each share of GBTG Class A common stock issued and outstanding as of the effective time was canceled and converted into the right to receive $9.50 in cash per share. This price represents a 65.1% premium to the 30-day volume-weighted average price (VWAP) from the date of the merger agreement.
As a result of the merger, GBTG’s common stock has ceased trading and will be delisted from the New York Stock Exchange. The company will now operate as a privately held company under the ownership of Long Lake Management.
The transaction is being financed through a combination of equity provided by Long Lake’s existing investors and Koch Equity Development LLC, as well as committed debt financing. Long Lake intends to integrate its proprietary Nexus AI transformation platform with Amex GBT’s operations to enhance the customer travel experience.
Upon the effective time, all members of GBTG’s board of directors resigned from the company’s board and any committees thereof. The company also entered into a new Credit Agreement with JPMorgan Chase Bank, N.A., establishing a senior secured first-lien term loan facility of $1.5 billion and a revolving credit facility of $250 million.
