• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
PublishGo to App
    Quantisnow Logo

    © 2026 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlertsPublish with Us
    Company
    AboutQuantisnow PlusContactJobsAI superconnector for talent & startupsNEWLLM Arena
    Legal
    Terms of usePrivacy policyCookie policy

    Amendment: SEC Form SCHEDULE 13D/A filed by Global Business Travel Group Inc.

    6/29/26 6:19:33 PM ET
    $GBTG
    Transportation Services
    Consumer Discretionary
    Get the next $GBTG alert in real time by email



    SECURITIES AND EXCHANGE COMMISSION
    Washington, D.C. 20549


    SCHEDULE 13D

    Under the Securities Exchange Act of 1934

    (Amendment No. 2)


    Global Business Travel Group, Inc.

    (Name of Issuer)


    Class A Common Stock, par value $ 0.0001 per share

    (Title of Class of Securities)




    37890B100

    (CUSIP Number)
    Qatar Investment Authority
    Ooredoo Tower (Building 14), Al Dafna St, 801 Al Dafna Zone 61
    Doha, S3, 23224
    0097444990696

    (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
    06/27/2026

    (Date of Event Which Requires Filing of This Statement)


    If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. Checkbox not checked

    The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).




    schemaVersion:


    SCHEDULE 13D

    CUSIP Number(s):
    37890B100


    1 Name of reporting person

    Qatar Investment Authority
    2Check the appropriate box if a member of a Group (See Instructions)

    Checkbox not checked  (a)
    Checkbox checked  (b)
    3SEC use only
    4 Source of funds (See Instructions)

    OO
    5 Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

    Checkbox not checked
    6Citizenship or place of organization

    QATAR
    Number of Shares Beneficially Owned by Each Reporting Person With:
    7Sole Voting Power

    87,659,000.00
    8Shared Voting Power

    0.00
    9Sole Dispositive Power

    87,659,000.00
    10Shared Dispositive Power

    0.00
    11Aggregate amount beneficially owned by each reporting person

    87,659,000.00
    12Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

    Checkbox not checked
    13Percent of class represented by amount in Row (11)

    16.8 %
    14Type of Reporting Person (See Instructions)

    OO

    Comment for Type of Reporting Person:
    * Based on 521,455,950 shares of Class A common stock, par value $0.0001 per share ("Class A Common Stock") issued and outstanding as of May 7, 2026 as set forth on Form 10-Q filed by the Issuer with the Securities and Exchange Commission (the "SEC") on May 11, 2026.


    SCHEDULE 13D

    Item 1.Security and Issuer
    (a)Title of Class of Securities:

    Class A Common Stock, par value $ 0.0001 per share
    (b)Name of Issuer:

    Global Business Travel Group, Inc.
    (c)Address of Issuer's Principal Executive Offices:

    666 THIRD AVENUE, NEW YORK, NEW YORK , 10017.
    Item 1 Comment:
    This Amendment No. 2 to the Schedule 13D (the "Amendment No. 2") amends and supplements the Schedule 13D filed by the Reporting Person with the SEC on October 2, 2025 (the "Schedule 13D"), as amended by Amendment No. 1, dated May 4, 2026 (the "Amendment No. 1"). Except as amended and supplemented by the Amendment No. 1 and the Amendment No. 2, the Schedule 13D remains unchanged. This Amendment No. 2 is being filed to reflect the entry into a Rollover Agreement, dated as of June 27, 2026 (the "Rollover Agreement"), by QIA Retail Holding LLC ("QIA Retail"), a Qatar limited liability company and a wholly-owned subsidiary of the Reporting Person, with Gaia Purchaser Parent, LLC, a Delaware limited liability company ("Topco"), an indirect parent company of Gaia Purchaser, Inc., a Delaware corporation ("Parent"), with respect to the shares of Class A Common Stock held of record by QIA Retail. Reference is made to that certain Agreement and Plan of Merger (the "Merger Agreement"), dated as of May 2, 2026, by and among the Issuer, Parent and Gaia Merger Sub, Inc., a Delaware corporation ("Merger Sub"), pursuant to which, Merger Sub will be merged with and into the Issuer (the "Merger"), with the Issuer surviving as a wholly owned subsidiary of Parent.
    Item 4.Purpose of Transaction
     
    Item 4 of the Schedule 13D is hereby supplemented and amended to add the following information: Rollover Agreement QIA Retail and Topco have entered into the Rollover Agreement in connection with, and in anticipation of the consummation of, the Merger. On the terms and subject to the conditions set forth in the Rollover Agreement, QIA Retail has agreed, immediately prior to the effective time of the Merger, to contribute 34,210,526 (or such lower number of shares equal to the value of the Exchange Units divided by $9.50 per share) of its shares of Class A Common Stock (the "Rollover Shares"), having an aggregate value equal to $325 million (or such lower amount solely to the extent required to achieve a 9.9% common equity ownership in Topco on a fully diluted basis), to Topco in exchange for newly issued limited liability company interests in Topco having equivalent aggregate value (the "Exchange Units", such transaction, the "Rollover"). The Rollover Shares contributed to Topco by QIA Retail will be distributed to Parent immediately following receipt thereof, and as a result of the Merger, will be cancelled and extinguished without any conversion thereof or consideration paid therefor. Following the closing of the Rollover, QIA Retail will own no more than 9.9% of the common equity interests in Topco. QIA Retail will receive standard minority economic protections commensurate with its level of investment, with no board seats (and only one non-voting board observer seat), in connection with the Rollover. Pursuant to the Rollover Agreement, QIA Retail may, upon written notice to Topco at least 10 Business Days prior to anticipated closing date of the Merger, distribute all or a portion of the Rollover Shares to any of its equityholders prior to closing of the Merger, provided that (x) such equityholder is under common control with QIA Retail, (y) such equityholder has executed a joinder to the Rollover Agreement, and (z) such distribution would not (A) impede or delay the obtaining of any governmental clearances or consents, or the expiration or termination of any applicable waiting period in each case required in connection with the consummation of the Merger or that are otherwise material and reasonably necessary to consummate the transactions contemplated by the Merger Agreement (the "Transactions") or the Rollover (collectively, "Transaction Approvals") beyond the time that the Merger was expected to occur, (B) materially increase the risk of a governmental order prohibiting the Transactions or the Rollover, (C) require additional governmental clearances or consents with respect to the Transactions or the Rollover, or (D) impose additional liability on Topco or its affiliates. The Rollover is conditioned on, among other things, the contemporaneous consummation of the Merger in accordance with the terms of the Merger Agreement. QIA Retail's prior written consent is required for any amendment to the Merger Agreement in a manner that would increase the cash consideration of $9.50 per share of Class A Common Stock payable in connection with the Merger (the "Per Share Price") or change the form of the Per Share Price (the "Price Change"). If QIA Retail does not approve such amendment or waive its consent right, the Rollover Agreement will be terminated automatically. The Rollover Agreement will terminate automatically upon the earliest of (i) mutual written consent of Topco and QIA Retail, (ii) valid termination of the Merger Agreement, provided that the transactions contemplated thereby have not been consummated, (iii) upon written notice from Topco to QIA Retail, following reasonable good faith consultation with QIA Retail, of the reasonably likely failure to obtain any Transaction Approvals prior to the earlier of (A) the Termination Date (as defined in and as it may be extended pursuant to the Merger Agreement) or (B) consummation of the Merger, or (iv) QIA Retail's failure to approve the Price Change or waive its consent right with respect thereto. The foregoing description of the Rollover Agreement and the transactions contemplated thereby does not purport to be complete and is subject to and qualified in its entirety by reference to the Rollover Agreement, a copy of which is filed as Exhibit 1 to this Amendment and is incorporated herein by reference.
    Item 5.Interest in Securities of the Issuer
    (a)
    Item 5 of the Schedule 13D is hereby supplemented and amended as follows: The Reporting Person has sole voting and dispositive power over 87,659,000 Class A Common Stock, representing 16.8% of the outstanding Class A Common Stock
    (b)
    (i) Sole power to vote or direct the vote: 87,659,000 (ii) Shared power to vote or direct the vote: 0 (iii) Sole power to dispose or direct the disposition: 87,659,000 (iv) Shared power to dispose or direct the disposition: 0
    (c)
    The Reporting Person has not effected any transactions in Class A Common Stock during the past sixty days.
    (d)
    To the best knowledge of the Reporting Person, no person other than the Reporting Person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities beneficially owned by the Reporting Person.
    (e)
    Not applicable
    Item 6.Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
     
    Item 6 of the Schedule 13D is hereby supplemented by incorporating by reference Item 4 of this Amendment No. 2.
    Item 7.Material to be Filed as Exhibits.
     
    Exhibit No. Description 1 Rollover Agreement, dated as of June 27, 2026, by and between QIA Retail and Topco.

        SIGNATURE 
     
    After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

     
    Qatar Investment Authority
     
    Signature:/s/ Mohammed Fahad Al Khulaifi
    Name/Title:Mohammed Fahad Al Khulaifi/Head of Compliance
    Date:06/29/2026
    Get the next $GBTG alert in real time by email

    Crush Q1 2026 with the Best AI Superconnector

    Stay ahead of the competition with Standout.work - your AI-powered talent-to-startup matching platform.

    AI-Powered Inbox
    Context-aware email replies
    Strategic Decision Support
    Get Started with Standout.work

    Recent Analyst Ratings for
    $GBTG

    DatePrice TargetRatingAnalyst
    4/7/2026$6.50Neutral
    BofA Securities
    3/18/2025$10.00Buy
    BTIG Research
    11/22/2024$11.00Buy
    UBS
    12/15/2023$8.00Neutral → Buy
    Citigroup
    12/22/2022$8.00Outperform
    Evercore ISI
    12/7/2022$6.50Neutral
    Citigroup
    10/3/2022$7.10Buy
    Deutsche Bank
    9/30/2022$9.00Outperform
    Credit Suisse
    More analyst ratings

    $GBTG
    Press Releases

    Fastest customizable press release news feed in the world

    View All

    American Express Global Business Travel Reports Strong Q1 2026 Financial Results

    American Express Global Business Travel, which is operated by Global Business Travel Group, Inc. (NYSE:GBTG) ("Amex GBT" or the "Company"), a leading software and services company for travel, expense and meetings & events, today reported first quarter 2026 financial results. (in millions, except percentages; unaudited) Three Months Ended YOY Inc / (Dec) March 31, 2026 2025 Revenue $ 840 $ 621 35% Total operating expenses $ 837 $ 566 48% Gross Profit $ 471 $ 374 26% Gross Profit Margin   56%   60% (41

    5/4/26 7:35:00 AM ET
    $GBTG
    Transportation Services
    Consumer Discretionary

    Long Lake Agrees to Acquire American Express Global Business Travel, the World's Largest Corporate Travel Platform, for $6.3 Billion, With Support From General Catalyst and Alpha Wave

    Transaction combines Long Lake's applied AI capabilities with Amex GBT's marketplace, customer relationships and technology solutions to make business travel faster, smarter and more seamless for every traveler Amex GBT shareholders to receive $9.50 per share in cash, representing 65.1% premium to the 30-day VWAP Major shareholders collectively representing 69% of GBT's shares have entered into voting agreements in support of the transaction, including American Express, Expedia, Qatar Investment Authority, and BlackRock American Express brand licensing agreement to remain in place, ensuring continuity for clients, partners and travelers worldwide American Express Global Business

    5/4/26 7:30:00 AM ET
    $GBTG
    Transportation Services
    Consumer Discretionary

    American Express Global Business Travel to Report First Quarter 2026 Financial Results on May 11, 2026

    American Express Global Business Travel, which is operated by Global Business Travel Group, Inc. (NYSE:GBTG) ("Amex GBT" or the "Company"), a leading software and services company for travel, expense, and meetings & events, today announced that it will report first quarter 2026 financial results on May 11, 2026, before the market opens. Chief Executive Officer Paul Abbott and Chief Financial Officer Karen Williams will discuss the financial performance and business outlook for Amex GBT on a live audio webcast at 9:00 a.m. ET. The webcast is expected to last approximately one hour and will be accessible by visiting the Investor Relations section of the Amex GBT website at investors.amexglo

    4/27/26 8:30:00 AM ET
    $GBTG
    Transportation Services
    Consumer Discretionary

    $GBTG
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    View All

    Chief Financial Officer Williams Karen A covered exercise/tax liability with 27,900 shares, decreasing direct ownership by 5% to 568,257 units (SEC Form 4) to cover withholding tax

    4 - Global Business Travel Group, Inc. (0001820872) (Issuer)

    7/2/26 4:01:42 PM ET
    $GBTG
    Transportation Services
    Consumer Discretionary

    Officer Bock Eric J. gifted 6,500 shares and sold $2,020,065 worth of shares (215,916 units at $9.36), decreasing direct ownership by 22% to 773,956 units (SEC Form 4)

    4 - Global Business Travel Group, Inc. (0001820872) (Issuer)

    6/15/26 6:21:15 PM ET
    $GBTG
    Transportation Services
    Consumer Discretionary

    Chief Executive Officer Abbott Paul G sold $5,369,864 worth of shares (574,317 units at $9.35), decreasing direct ownership by 18% to 2,582,911 units (SEC Form 4)

    4 - Global Business Travel Group, Inc. (0001820872) (Issuer)

    6/15/26 6:19:56 PM ET
    $GBTG
    Transportation Services
    Consumer Discretionary

    $GBTG
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    View All

    BofA Securities initiated coverage on Global Business Travel Group with a new price target

    BofA Securities initiated coverage of Global Business Travel Group with a rating of Neutral and set a new price target of $6.50

    4/7/26 8:47:13 AM ET
    $GBTG
    Transportation Services
    Consumer Discretionary

    BTIG Research initiated coverage on Global Business Travel Group with a new price target

    BTIG Research initiated coverage of Global Business Travel Group with a rating of Buy and set a new price target of $10.00

    3/18/25 8:02:57 AM ET
    $GBTG
    Transportation Services
    Consumer Discretionary

    UBS initiated coverage on Global Business Travel Group with a new price target

    UBS initiated coverage of Global Business Travel Group with a rating of Buy and set a new price target of $11.00

    11/22/24 7:47:18 AM ET
    $GBTG
    Transportation Services
    Consumer Discretionary

    $GBTG
    SEC Filings

    View All

    SEC Form DEFM14A filed by Global Business Travel Group Inc.

    DEFM14A - Global Business Travel Group, Inc. (0001820872) (Filer)

    7/6/26 5:26:54 PM ET
    $GBTG
    Transportation Services
    Consumer Discretionary

    Amendment: SEC Form SCHEDULE 13D/A filed by Global Business Travel Group Inc.

    SCHEDULE 13D/A - Global Business Travel Group, Inc. (0001820872) (Subject)

    6/29/26 6:19:33 PM ET
    $GBTG
    Transportation Services
    Consumer Discretionary

    SEC Form 144 filed by Global Business Travel Group Inc.

    144 - Global Business Travel Group, Inc. (0001820872) (Subject)

    6/12/26 4:17:14 PM ET
    $GBTG
    Transportation Services
    Consumer Discretionary

    $GBTG
    Financials

    Live finance-specific insights

    View All

    American Express Global Business Travel Reports Strong Q1 2026 Financial Results

    American Express Global Business Travel, which is operated by Global Business Travel Group, Inc. (NYSE:GBTG) ("Amex GBT" or the "Company"), a leading software and services company for travel, expense and meetings & events, today reported first quarter 2026 financial results. (in millions, except percentages; unaudited) Three Months Ended YOY Inc / (Dec) March 31, 2026 2025 Revenue $ 840 $ 621 35% Total operating expenses $ 837 $ 566 48% Gross Profit $ 471 $ 374 26% Gross Profit Margin   56%   60% (41

    5/4/26 7:35:00 AM ET
    $GBTG
    Transportation Services
    Consumer Discretionary

    American Express Global Business Travel to Report First Quarter 2026 Financial Results on May 11, 2026

    American Express Global Business Travel, which is operated by Global Business Travel Group, Inc. (NYSE:GBTG) ("Amex GBT" or the "Company"), a leading software and services company for travel, expense, and meetings & events, today announced that it will report first quarter 2026 financial results on May 11, 2026, before the market opens. Chief Executive Officer Paul Abbott and Chief Financial Officer Karen Williams will discuss the financial performance and business outlook for Amex GBT on a live audio webcast at 9:00 a.m. ET. The webcast is expected to last approximately one hour and will be accessible by visiting the Investor Relations section of the Amex GBT website at investors.amexglo

    4/27/26 8:30:00 AM ET
    $GBTG
    Transportation Services
    Consumer Discretionary

    American Express Global Business Travel Reports Strong Fourth Quarter and Full-Year 2025 Financial Results

    Reiterated Full-Year 2026 Guidance for Revenue Growth of 19% to 21% and $615 Million to $645 Million in Adjusted EBITDA Doubled Share Buyback Authorization to $600 Million American Express Global Business Travel ("Amex GBT" or the "Company") (NYSE:GBTG), a leading technology and services company for travel, expense, and meetings & events today reported fourth quarter and full-year 2025 financial results. Fourth Quarter & Full-Year 2025 Financial Summary (in millions, except percentages; unaudited) Three Months Ended YOY Increase / (Decrease) Year Ended YOY Increase / (Decrease) December 31, December 31, 2025 2024 20

    3/9/26 7:45:00 AM ET
    $GBTG
    Transportation Services
    Consumer Discretionary

    $GBTG
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    View All

    SEC Form SC 13G/A filed by Global Business Travel Group Inc. (Amendment)

    SC 13G/A - Global Business Travel Group, Inc. (0001820872) (Subject)

    2/14/24 4:05:33 PM ET
    $GBTG
    Transportation Services
    Consumer Discretionary

    SEC Form SC 13G/A filed by Global Business Travel Group Inc. (Amendment)

    SC 13G/A - Global Business Travel Group, Inc. (0001820872) (Subject)

    2/7/24 4:16:09 PM ET
    $GBTG
    Transportation Services
    Consumer Discretionary

    SEC Form SC 13D filed by Global Business Travel Group Inc.

    SC 13D - Global Business Travel Group, Inc. (0001820872) (Subject)

    1/17/24 2:57:28 PM ET
    $GBTG
    Transportation Services
    Consumer Discretionary

    $GBTG
    Leadership Updates

    Live Leadership Updates

    View All

    AlTi Announces Board Appointment

    AlTi Global, Inc. (NASDAQ:ALTI) ("AlTi"), a leading independent global wealth and asset manager, today announced the appointment of Norma Corio to its Board of Directors ("Board"), following the departure of Hazel McNeilage, effective June 29, 2023. "I am thrilled to welcome Norma to our Board as AlTi embarks on its next phase of growth," said Michael Tiedemann, Chief Executive Officer of AlTi Global. "Norma offers over four decades of public company, banking and capital markets experience which will be invaluable in establishing AlTi as a leading global wealth and asset management platform in the public markets. I would like to thank Hazel for her contributions to the Board and wish her

    6/29/23 4:05:00 PM ET
    $ALTI
    $FOA
    $GBTG
    Investment Managers
    Finance
    Finance: Consumer Services
    Transportation Services