Carlson Wagonlit Travel has acquired the remaining 24% of shares in Indtravels Private Limited, CWT's travel management business in India, that it did not already own.
CWT purchased the oustanding shares from its joint venture partner, AFL Private Ltd. The Indian travel management company, which has 12 offices and more than 1,000 employees in 10 cities, is now known as CWT India Private Limited.
The transaction highlights the strategic importance of CWT operations in India, the company said.
"Business travel has increased tremendously in India over the last few years, making it one of our top three Asia Pacific markets," said Berthold Trenkel, CWT’s president of Asia Pacific operations.
Cyrus Guzder, AFL Private's chairman and managing director, will remain on the board of CWT India. Praveen Gandhi will continue as CEO of CWT India.
The CWT-AFL association in India began 11 years ago as a partnership and was transformed into a joint venture in 2000.