Carlyle, GIC sued by Qatari fund after busted deal to buy stake in AmEx Global Business Travel

NEW YORK - Carlyle Group and Singapore sovereign-wealth fund GIC are allegedly using fake excuses to renege on buying a 20 per cent stake in American Express Global Business Travel , according to claims in an unsealed lawsuit.

The dispute is among a half-dozen busted-deal cases tied to Covid-19 that have found their way to Delaware's business court. The state is the corporate home to more than half of US public companies and more than 60 per cent of Fortune 500 firms. Chancery court judges hear cases without juries and can't award punitive damages.

A spokesman for GIC didn't immediately respond to an email requesting comment sent outside normal business hours.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

KKR builds 5.2per cent stake in ProSieben, says company undervaluedPrivate equity investor KKR said on Monday it had acquired a stake of 5.2per cent in German broadcaster ProSiebenSat.1 Media , returning as an ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

KKR builds 5.2% stake in ProSieben, says company undervaluedPrivate equity investor KKR said on Monday it had acquired a stake of 5.2 per cent in German broadcaster ProSiebenSat.1 Media , returning as an ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »