CWT gets majority stake in AFL

Carlson Wagonlit Travel announced the acquisition of additional 26 per cent stake in its Indian joint venture from AFL Private Ltd on Monday, a release said.

The current stake would give CWT a majority control of the joint venture with a 76 per cent stake. AFL will continue to be the remaining shareholder, the release said.

The joint venture between the two companies took place in 2000. CWT has 12 offices across 10 cities and more than 800 employees in India. Specialising in business travel management, the company has presence in nearly 150 countries.

(Source: Business Line)