American Express Global Business Travel has purchased the 35 per cent equity share held by Barceló, a minority shareholder, in American Express Global Business Travel Spain.

American Express Global Business Travel Spain is now a wholly-owned subsidiary of American Express Global Business Travel.

Luis Dupuy de Lome, general manager, American Express Global Business Travel, Spain, said: “Our joint venture with Barceló has been a success story since its inception nine years ago.

“We thank them for their partnership.”

By joining the American Express Global Business Travel family, Spanish customers will continue to benefit from local expertise in addition to the organisation’s global scale and access.

Dupuy de Lome added: “While the joint venture is ending, nothing changes for customers.

“It is business as usual.

“This is only a transaction between shareholders.

“Our staff, brand and value proposition remain the same.

“Furthermore, we now enjoy the benefit of being wholly owned by American Express Global Business Travel.”

The terms of the transaction will remain undisclosed.