American Express Buys 2% of Club Med:...

American Express Buys 2% of Club Med: American Express Travel Related Services Co. said it had bought 2% of the common stock of the French resort operator Club Mediterranee. The deal follows a marketing agreement between the two companies last December under which the American Express charge card was designated as the preferred form of payment at Club Med resorts, while Club Med vacations are marketed at American Express travel offices worldwide. Terms of the agreement were not disclosed.