TQ3 Travel Solutions and Navigant are terminating their global joint venture agreement, regarding the co-management of TQ3 Travel Solutions, effective immediately.
TQ3 Travel Solutions, GmbH will transfer its
50% stake in TQ3 Travel Solutions GmbH to Navigant International, who will continue to operate TQ3 Travel Solutions, which will
retain the worldwide rights to the TQ3 brand name and trademark.
TQ3 Travel Solutions Management Holding and all of its
subsidiaries (who will all change their name and brand before 30 June
2006) will leave the TQ3 Network, effective immediately. Navigant
International, through TQ3 Travel Solutions, will manage the
remaining international network offices.
Both parties are committed to honoring all existing contractual
obligations with customers and business partners until the end of
their contract period, expecting to ensure continued service and
support without disruption.