AmEx Business Travel Going Public Through Merger With Apollo SPAC

American Express Global Business Travel is merging with a blank-check company backed by Apollo Global Management Inc. to go public with a roughly $5.3 billion valuation, the companies said.

A travel-booking services provider for corporate customers, AmEx Global Business Travel is 50% owned by American Express Co. It is combining with the special-purpose acquisition company Apollo Strategic Growth Capital . The Wall Street Journal previously reported the two sides were nearing a deal.