February 9, 2018 / 8:08 AM / 2 months ago

CORRECTED-UK's Hogg Robinson gets AmEx GBT takeover offer, agrees to sell unit to Visa

(Corrects throughout to say AmEx GBT, not AmEx unit; corrects attribution in paragraph 2; changes story keyword used by media customers)

Feb 9 (Reuters) - British business travel company Hogg Robinson said it received a takeover offer from American Express Global Business Travel (GBT) and also agreed to sell its payments technology business to Visa Inc.

Hogg Robinson said AmEx GBT would pay a maximum of 120 pence per share, which according to Reuters calculations values Hogg Robinson at up to 393.14 million pounds ($549.6 million).

Meanwhile, Visa said it would pay 141.8 million pounds for Hogg Robinson’s payments and expense management technology business, Fraedom.

$1 = 0.7154 pounds Reporting by Rahul B in Bengaluru; Editing by Amrutha Gayathri

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