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Target in Talks to Sell Half of Credit Card Receivables

Reuters
Wednesday, 12 Mar 2008 | 4:32 PM ET

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.

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