Carlson to acquire 100 percent tenure of transport unit



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    Carlson announced late Sunday that it is appropriation 100 percent tenure of Carlson Wagonlit Travel (CWT) in a pierce designed to connect a position as a heading actor in a transport and hotel industry.

    The family-owned association pronounced it will use deduction from a sale of TGI Friday’s, announced final month, to acquire a 45 percent interest in CWT now hold by a investment bank and banker J.P. Morgan. Terms of a squeeze are confidential.

    However, Carlson CEO Trudy Rautio pronounced a J.P. Morgan transaction will still leave a association with additional collateral to deposit in a hotel business, that includes Radisson, Radisson Blu and Radisson Red, Country Inns Suites, Park Plaza, Park Inn and a new Quorvus Collection of disdainful boutique properties.

    The sale of TGI Friday’s is estimated to be in a area of $800 million. Both a Friday’s sale and a CWT squeeze are scheduled to tighten during a finish of July.

    “This solidifies a participation in a [travel management] marketplace,” Rautio pronounced in an interview. “CWT is a plain brand, it’s tellurian and it’s growing.

    Rautio also pronounced CWT, that is a largest transport government association in a industry, “is essential and has a clever money flow.”

    CWT is a largest shred in a Carlson business portfolio.

    In 2013, a business transport hulk generated sales of $26.9 billion and net income of $1.7 billion.

     

    David Phelps • 612-673-7269

     

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