Bloomberg – 3/17/14: American Express Co.  agreed to sell a 50 percent stake in its business-travel division for $900 million as it seeks to boost revenue from corporate bookings. AmEx will create a joint venture with an investor group formed by Certares International Bank LLC that includes Qatar Holding LLC and funds managed by BlackRock Inc. and Macquarie Capital, according to a statement yesterday from AmEx and the Qatari fund. The business will use the American Express brand and be headed by Bill Glenn, formerly the New York-based firm’s president of global commercial services. The consumer-travel operation isn’t part of the deal.
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