• Linkdin
Maximize your media exposure with Fibre2Fashion's single PR package  |   Know More

Target's first foray outside US market with Zellers deal

17 Jan '11
4 min read

Target Credit Card Receivables
Target also announced today that it intends to actively pursue the sale of its credit card receivables portfolio, which totaled US$6.7 billion as of October 30, 2010. First Annapolis has been engaged to advise Target in this process.

Target believes that improved portfolio performance, the successful launch of its REDcard Rewards program, and conditions of the capital markets create an attractive opportunity to engage interested parties regarding a possible sale of these assets. In addition to an appropriate financial arrangement, Target intends to execute a transaction in which it would retain operational control of its strategically important financial services business, including its deep integration with Target's retail operations. Additionally, a transaction would be expressly designed to have minimal impact on Target's guests or the Target team members who provide financial products and services to them.

Target intends to execute a transaction only if appropriate strategic and financial conditions are met. Any proceeds to Target resulting from a potential transaction would be net of existing third party interests in the portfolio.

Target Corporation

Leave your Comments

Esteemed Clients

TÜYAP IHTISAS FUARLARI A.S.
Tradewind International Servicing
Thermore (Far East) Ltd.
The LYCRA Company Singapore  Pte. Ltd
Thai Trade Center
Thai Acrylic Fibre Company Limited
TEXVALLEY MARKET LIMITED
TESTEX AG, Swiss Textile Testing Institute
Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)
Taiwan Textile Federation (TTF)
SUZHOU TUE HI-TECH NONWOVEN MACHINERY CO.,LTD
Stahl Holdings B.V.,
Advanced Search