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Capital One Canada To Buy Hudson's Bay Credit-Card Portfolio

DOW JONES NEWSWIRES Capital One Financial Corp.'s (COF) Capital One Canada unit has agreed to acquire and service GE Capital Retail Finance's Hudson's Bay Co. credit-card portfolio and related assets, with outstanding receivables of about C$1.3 billion. Terms weren't disclosed. Capital One Canada and GE Capital Retail, the consumer lending unit of General Electric Co. (GE), said the deal will see the transfer to Capital One Canada of about 400 GE employees involved in the Hudson's Bay financial-services business. They will continue to work on the Hudson's Bay credit-card portfolio at locations in Toronto and Montreal. Hudson's Bay, Canada's oldest commercial operation, operates department stores under several banners. It's owned by Hudson's Bay Trading Co., which is in turn owned by private-equity firm NRDC Equity partners. Capital One Canada said it will aim to strengthen the Canadian retailer's credit and loyalty portfolio. The Canadian market wasn't a strategic one for the GE unit, the companies said. -By Carolyn King, Dow Jones Newswires; 416-306-2100; carolyn.m.king@dowjones.com

Stock News for Capital One (COF)
DateTimeHeadline
11/30/201610:10:00Current Report Filing (8-k)
11/29/201617:02:28Securities Registration (section 12(b)) (8-a12b)
11/29/201616:59:21Current Report Filing (8-k)
11/29/201616:26:00Capital One Selects AWS as its Predominant Cloud Infrastructure...
11/28/201617:41:26Statement of Changes in Beneficial Ownership (4)
11/28/201600:40:00Amazon Broadens Cloud Services as Big Companies Sign On
11/25/201609:27:57Current Report Filing (8-k)
11/25/201608:10:00AmEx Raises Its Fee for Late Payment on Credit Cards
11/23/201606:07:04Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
11/22/201606:04:04Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
11/21/201609:48:05Prospectus Filed Pursuant to Rule 424(b)(5) (424b5)
11/15/201618:32:09Statement of Changes in Beneficial Ownership (4)
11/15/201618:31:42Statement of Changes in Beneficial Ownership (4)
11/15/201606:05:45Current Report Filing (8-k)
11/14/201618:11:28Statement of Changes in Beneficial Ownership (4)
11/09/201616:59:32Current Report Filing (8-k)
11/04/201616:53:03Current Report Filing (8-k)
11/04/201609:46:26Current Report Filing (8-k)
11/03/201616:30:00Capital One Announces Quarterly Dividend
11/03/201606:04:30Quarterly Report (10-q)

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