M&A Deal Summary

Capital One Canada Acquires Hudson Bay Company s Credit Card Portfolio.

On November 9, 2010, Capital One Canada acquired financial services company Hudson Bay Company s Credit Card Portfolio. from General Electric for 1.3B USD

Acquisition Highlights
  • This is Capital One Canada’s 1st transaction in the Financial Services sector.
  • This is Capital One Canada’s largest (disclosed) transaction.
  • This is Capital One Canada’s 1st transaction in Canada.

M&A Deal Summary

Date 2010-11-09
Target Hudson Bay Company s Credit Card Portfolio.
Sector Financial Services
Buyer(s) Capital One Canada
Sellers(s) General Electric
Deal Type Divestiture
Deal Value 1.3B USD

Target

Hudson Bay Company s Credit Card Portfolio.

Canada
Hudson Bay Company's Credit Card Portfolio and Related Assets comprises credit card products.

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Buyer(S) 1

Buyer

Capital One Canada

Scarborough, Ontario, Canada

website


Category Company
Founded 1996
Sector Financial Services
DESCRIPTION

Capital One Canada is an industry in analytical expertise and credit risk management,


DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 1
Country (Canada) 1 of 1
Year (2010) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

General Electric

Boston, Massachusetts, United States

website


Category Company
Founded 1892
Sector Diversified
Employees205,000
Revenue 76.6B USD (2022)
DESCRIPTION

General Electric is a diversified technology and financial services corporation. Products and services range from aircraft engines, power generation, water processing, and household appliances to medical imaging, business and consumer financing and industrial products. General Electric was founded in 1892 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 21 of 44
Sector (Financial Services) 6 of 9
Type (Divestiture) 17 of 38
Country (Canada) 1 of 2
Year (2010) 3 of 3
Size (of disclosed) 8 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-11-02 Garanti

Istanbul, Turkey

Garanti is a financial services company headquartered in Istanbul, Turkey. Garanti offers retail and commercial banking services. Garanti was founded in 1946 and is based in Istanbul, Turkey.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-13 Wellstream Holdings

Newcastle upon Tyne, United Kingdom

Wellstream Holdings PLC is a global manufacturer of flexible pipe applications for the offshore deepwater oil and gas market. The precision of the company's flexible pipe systems is integral to the development of hard-to-reach deep-sea oil reserves, and Wellstream holds a strong competitive position in a global market of three.

Buy £800M