Contract

Carlson to take 100% of CWT

Carlson, a global hospitality and travel company, has entered into a definitive agreement to acquire from JPMorgan Chase & Co., the 45% equity interest JPMC indirectly holds in Carlson Wagonlit Travel (CWT). As a result of this acquisition, Carlson will own 100% of CWT. Financial terms of the transaction were not disclosed. The transaction is expected to close in July 2014, subject to customary closing conditions.