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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; [email protected]

Stock News for Capital One (COF)
DateTimeHeadline
03/21/201716:49:24Additional Proxy Soliciting Materials (definitive) (defa14a)
03/21/201716:46:27Proxy Statement (definitive) (def 14a)
03/20/201716:45:00Capital One Financial Corporation to Webcast Conference Call...
03/20/201716:07:58Statement of Changes in Beneficial Ownership (4)
03/20/201712:51:48Amended Statement of Ownership (sc 13g/a)
03/16/201717:13:24Current Report Filing (8-k)
03/16/201709:02:00Capital One® And Car Designer Chip Foose To Discuss New Ways...
03/15/201717:32:54Statement of Changes in Beneficial Ownership (4)
03/15/201706:02:33Current Report Filing (8-k)
03/13/201707:00:00Retirement Confidence Dips in 2017
03/10/201716:47:53Statement of Changes in Beneficial Ownership (4)
03/10/201716:47:53Statement of Changes in Beneficial Ownership (4)
03/10/201716:47:29Statement of Changes in Beneficial Ownership (4)
03/10/201716:47:29Statement of Changes in Beneficial Ownership (4)
03/10/201716:47:03Statement of Changes in Beneficial Ownership (4)
03/10/201716:46:37Statement of Changes in Beneficial Ownership (4)
03/10/201716:46:10Statement of Changes in Beneficial Ownership (4)
03/10/201716:46:10Statement of Changes in Beneficial Ownership (4)
03/10/201716:46:10Statement of Changes in Beneficial Ownership (4)
03/10/201716:45:43Statement of Changes in Beneficial Ownership (4)

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