Merger Update: GBT/CWT

Reference to a Phase 2 investigation: Anticipated acquisition by Global Business Travel Group, Inc. of CWT Holdings, LLC

On 30 July 2024, the CMA decided that it was or may be the case that the above Merger may be expected to result in a substantial lessening of competition (SLC) within a market or markets in the United Kingdom.

Pursuant to section 73A(1) of the Act, the Parties had until 6 August 2024 to offer an undertaking to the CMA that might be accepted by the CMA under section 73(2) of the Enterprise Act 2004 (the Act). On 6 August 2024, Global Business Travel Group, Inc. informed the CMA that it would not be offering any undertakings. The CMA has therefore decided to refer this Merger for a phase 2 investigation pursuant to sections 33 and 34ZA(2) of the Act.