Home / Knowledge / News / Target updates status of receivables ownership review
Target updates status of receivables ownership review
13
Mar '08
Target Corporation announced that it is currently in negotiations with an investment partner to sell an undivided interest in approximately half of Target's credit card receivables for about $4 billion.

This action is the result of a review of ownership alternatives for its credit card receivables that commenced in September 2007.

The proposed transaction is subject to execution of definitive agreements between Target and the potential investment partner, to receipt and sufficiency of various other third party consents, reviews and approvals, and to acceptable economics at the time of closing.

As such, no assurance can be given that a transaction will occur, but if completed, a closing during the second calendar quarter of 2008 seems possible at this time.

The proposed transaction is intended to achieve all of the objectives previously outlined in the company's September 12, 2007 announcement.

If completed, it would generate substantial liquidity for Target from a single source unrelated to the debt capital markets while continuing to utilize the skills and experience of Target's internal team to provide valuable financial products and services to its guests.

In addition, if completed, the proposed transaction would forge a new, long-term relationship with an investment partner whose broad experience is expected to result in strategic and financial benefits to Target over time.

Target Corporation


Must ReadView All

Textiles | On 23rd Jun 2017

Textile ministry organises training workshop on GST

The ministry of textiles had organised training workshop on GST which ...

Apparel/Garments | On 23rd Jun 2017

Uware Brands into licensing agreement with Polaroid

Uware Brands has entered into a licensing agreement with Polaroid for ...

Textiles | On 23rd Jun 2017

Ralph Lauren ex-president Tiger of Sweden's new CEO

Hans-Christian Meyer, former president of Ralph Lauren Corporation,...

Interviews View All

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search