Under an 11-year agreement to take effect upon closure of the transaction, Global Business Travel will continue to have the right to use the American Express trademark in connection with the American Express Global Business Travel and American Express GBT Meetings & Events brands. The transaction implies a pro forma market capitalization of approximately $5.3 billion and a pro forma enterprise valuation of approximately $5 billion for GBT, assuming no redemptions by Apollo Strategic Growth's shareholders. Current GBT common equity holders are expected to roll their existing equity holdings into the combined company. The transaction is expected to provide up to approximately $1.2 billion in gross proceeds. Upon the closing of the transaction, the combined company will be renamed Global Business Travel Group, and will continue to conduct its day-to-day business under its existing name and brand American Express Global Business Travel.