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Target in Talks to Sell Half of Credit Card Receivables
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Discounter Target said on Wednesday that it is in talks with an investment partner to sell an undivided interest in about half of its credit-card receivables for about $4 billion.
If an agreement is completed, a closing during the second quarter looks possible, the retailer said in a statement. Target had announced in September that it was considering selling an estimated $7 billion in credit-card assets.
Shares of Target [TGT
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] rose about 1.5 percent in extended electronic trading from their Wednesday close of $51.09.
Copyright 2008 Reuters. Click for restrictions.
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