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Sears plans to sell credit-card unit in major change
- Source :
- The Wall Street Journal Western Edition. March 26, 2003, A3
- Publication Year :
- 2003
-
Abstract
- Sears, Roebuck and Co. is planning to sell its MasterCard and Sears card unit as the number of payment delinquencies and $27 billion in the unit's debt is impacting the department store's ability to reorganize its retail operations. Sears is hoping to sell the unit for between six and seven billion dollars. Possible suitors include Bank of America, Citigroup and Bank One.
- Subjects :
- Sears, Roebuck and Co. -- Mergers, acquisitions and divestments
Sears, Roebuck and Co. -- Finance
Sears, Roebuck and Co. -- Economic policy
Department stores -- Mergers, acquisitions and divestments
Department stores -- Finance
Department stores -- Economic policy
Credit and debit card industry -- Mergers, acquisitions and divestments
Company acquisition/merger
Company financing
Business
Business, general
Subjects
Details
- ISSN :
- 01932241
- Database :
- Gale General OneFile
- Journal :
- The Wall Street Journal Western Edition
- Publication Type :
- News
- Accession number :
- edsgcl.99190852