CWT Plans Full Ownership Of Indian Operations

Carlson Wagonlit Travel in the next six weeks plans to acquire the remaining 24 percent of its majority owned Indian travel management company, giving it a wholly owned operation in the country, CWT president and CEO Doug Anderson today told Business Travel News.

Last summer, CWT purchased an additional 26 percent ownership stake in its decade-old joint venture with AFL Private, boosting its share to 76 percent. At the time, CWT India had 12 offices in 10 cities with more than 800 employees. In 2006, CWT claimed the company handled $230 million in travel sales.

The buy is part of CWT's larger development plans for Brazil, Russia, India and China. Although CWT has an established presence in the so-called BRIC countries with a wholly owned operation in Brazil, part-ownership in Russia and a 49 percent stake in a Chinese joint venture, Anderson said the company plans to work toward shifting its model in China to work with China-based multinational corporations.

"We don't have an offering and I don't think anyone has an offering to serve the Chinese multinationals," Anderson said. "We have a good presence with the non-Chinese multinationals, but now we need to figure out how to serve Chinese multinationals and how that model will evolve."