Target in Talks to Sell Half of Credit Card Receivables
Discounter Targetsaid 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 rose about 1.5 percent in extended electronic trading from their Wednesday close of $51.09.