Simpson Thacher Represents JPMorgan Chase & Co. in the Sale of Approximately $400 Million of Credit Card Assets
01.20.11
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Simpson Thacher represented JPMorgan Chase & Co. in connection with its sale of approximately $400 million of credit card assets to GE Capital Retail Consumer Finance, a consumer lending unit of General Electric Company. The transaction involves a sale of JP Morgan’s consumer credit card receivables associated with a private label and co-branded MasterCard program for The TJX Companies, Inc., a leading off-price retailer of apparel and home fashions. The transaction is expected to close in the second quarter of 2011, subject to customary closing conditions.
The Simpson Thacher team included Maripat Alpuche and Iksoo Kim (M&A).