Macfarlanes advises Amex Global Business Travel on UK pensions aspects of $6.3bn take-private

Macfarlanes has advised the world’s largest corporate travel platform, American Express Global Business Travel (Amex GBT), on the UK pensions aspects of its $6.3bn take-private by Long Lake Management.

Under the terms of the transaction, Long Lake Management, a newly formed entity backed by General Catalyst and Alpha Wave, acquired outstanding shares of Amex GBT not already owned by American Express for $9.50 per share in an all-cash transaction. The acquisition will see the combination of Long Lake’s AI capabilities with Amex GBT’s marketplace, customer relationships and technology solutions. The transaction is expected to close in the second half of 2026, subject to the satisfaction of customary closing conditions.

The Macfarlanes team was led by Pensions Partner Faye Jarvis alongside Senior Counsel Paul Lawrence.