American Express Global Business Travel simplifies corporate structure

American Express Global Business Travel announced (10-Jul-2023) the simplification of its corporate structure. The company entered a series of transactions to eliminate its umbrella partnership-C corporation structure. As a result, all of the company's stockholders now hold the same class of common stock, Class A. The company expects that simplifying its organisational structure will improve market data integrity, increase its weighting on certain indices, eliminate barriers to increased holdings by certain investors and reduce administrative and tax compliance costs. [more - original PR]