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Hogg Robinson Group (HRG) has released an update saying American Express Global Business Travel’s (GBT) acquisition of the TMC is now expected the take place in the third quarter of 2018 rather than the second.
The acquisition was announced in February and clearance by competition authorities in the EU was expected to be given in the second quarter.
However, the conditions of approval are now set to be satisfied in July, delaying the final clearance. The companies have already satisfied conditions of the acquisition in the US and Russia.
HRG said a further update on the expected timeline for completing the acquisition will be issued at a later date.