Navigant International Inc., an Arapahoe County-based travel-management company, and its German partner announced Tuesday that they have ended their joint venture, known as TQ3 Travel Solutions.
TQ3 Travel Solutions Management Holding GmbH said it had agreed to sell its 50 percent stake in the joint venture, created in March 2004, to Navigant for an undisclosed price.
Navigant will continue to operate TQ3 Travel Solutions, a corporate travel-management company, and will retain its name rights.
“The good news is we now pretty much control our destiny on a global basis,” said chief executive Ed Adams. “By owning the brand, we can pretty much dictate what makes the most sense for the company moving forward.”
It was also announced Tuesday that TQ3 Travel Solutions Management Holding, the business-travel subsidiary of Bremen, Germany-based TUI, is being sold to Netherlands-based BCD Holdings NV, another European travel company. That deal is expected to close in March.
Staff writer Julie Dunn can be reached at 303-820-1592 or jdunn@denverpost.com.
