AMSTERDAM--(BUSINESS WIRE)--Carlson Wagonlit B.V., a Carlson Wagonlit Travel (CWT) group company, has been informed that Carlson, a global hospitality and travel company and owner of a 55 percent equity interest in CWT, has entered into a definitive agreement to acquire from JPMorgan Chase & Co., the 45 percent equity interest it holds in CWT. As a result of this acquisition, Carlson will own 100 percent of CWT. The transaction is expected to close in July 2014, subject to customary closing conditions.
Upon completion of this acquisition, CWT expects that JPMorgan designees, Mr. Shane Fitzpatrick and Mr. Jeff Kinder, will resign from the CWT B.V. Board. Mr. Raymond Fischer, also a JPMorgan designee, resigned from the CWT B.V. Board as of May 23, 2014. CWT also expects that in connection with the restructuring of the CWT B.V. Board and following completion of the acquisition that Carlson designees, Ms. Laura Born, Mr. Nick Shepherd and Mr. Bill Van Brunt, will resign from the CWT B.V. Board. Trudy Rautio, President and Chief Executive Officer of Carlson, will remain Chairman of the Board of CWT B.V. and the following persons are expected to be appointed to the CWT B.V. Board: Mr. Brad Hall, Executive Vice President, Chief Financial Officer and Treasurer of Carlson; and Mr. Mark Karelse and Mr. Eric van Kuik, each of whom currently serves as a Director of Carlson Wagonlit B.V.
About Carlson Wagonlit B.V.
Carlson Wagonlit B.V. is the issuer of certain Senior Notes issued in connection with a high-yield offering on May 9, 2012. For more information about Carlson Wagonlit B.V., please visit www.carlsonwagonlitbv.com.
About Carlson Wagonlit Travel
CWT is a global leader specialized in managing business travel and meetings and events. CWT serves companies, government institutions and non-governmental organizations of all sizes in more than 150 countries and territories. By leveraging both the expertise of its people and leading-edge technology, CWT helps clients derive the greatest value from their travel program in terms of savings, service, security and sustainability. The company is also committed to providing best-in-class service and assistance to travelers. In 2013, sales volume for wholly owned operations and joint ventures totaled $26.9 billion. As part of its commitment to responsible business, CWT is a signatory of the United Nations Global Compact Ten Principles. For more information about CWT, please visit our global website at www.carlsonwagonlit.com. Follow us on Twitter @CarlsonWagonlit.
This document is neither an offer of securities for sale nor the solicitation of an offer to purchase securities in the United States or any other jurisdiction. The Senior Notes of Carlson Wagonlit B.V. have not been and will not be registered under U.S. Securities Act of 1933, as amended.