Hudson's Bay to Sell Credit Card Unit to GE Money

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00007532-hudsons-bay-to-sell-credit-card-unit-to-g/

TORONTO – Hudson’s Bay Co. said on Tuesday a unit of General Electric Co. will pay C$370 million ($322 million) for its private label credit card and related financial services assets.

Hudson’s Bay said the acquisition will include the transfer of about 650 employees to GE Money, the Canadian consumer lending unit of General Electric.

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