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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
08/24/201516:41:31Securities Registration (section 12(b)) (8-a12b)
08/24/201516:38:03Current Report Filing (8-k)
08/18/201510:53:30Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
08/18/201506:02:41Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
08/17/201519:00:00American Apparel Agrees to $90 Million Asset-Based Infusion
08/17/201510:13:37Prospectus Filed Pursuant to Rule 424(b)(5) (424b5)
08/17/201506:02:15Current Report Filing (8-k)
08/13/201517:40:08Goldman to Buy Assets from GE Capital bank
08/12/201520:00:34American Apparel's Rating Goes Further Into Junk Territory
08/12/201509:03:00Sixty-Four Percent Of America's Small Businesses Name Marketing...
08/11/201520:30:20American Apparel Warns It Needs to Raise Money
08/11/201519:43:37GE to Sell Health-Care Lending Operations to Capital One for...
08/11/201517:18:27GE to Sell Health-Care Lending Operations to Capital One for...
08/11/201517:00:43GE to Sell Health-Care Lending Operations to Capital One for...
08/11/201517:00:28GE to Sell Health-Care Financial Services Operations to Capital...
08/11/201516:48:45GE to Sell Health-Care Financial Services Operations to Capital...
08/11/201516:36:28Current Report Filing (8-k)
08/11/201516:05:00Capital One to Acquire GE Capital's U.S. Healthcare Finance Unit
08/06/201517:06:45Current Report Filing (8-k)
08/03/201509:40:00Technical Data on Credit Services Stocks -- Discover Financial...

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