Transactions & Cases Detail



Transaction/Case Details

GE Money Bank and GE Money acquire Chevron’s proprietary consumer credit card business

DATE CLOSED

December 18, 2007

BUSINESS SECTOR

Financial Services

LEAD OFFICE

Toronto


OVERVIEW

GE Money, the consumer lending unit of General Electric Company, through its Retail Consumer Finance Division, purchased the proprietary consumer credit card business from Chevron Corporation subsidiaries, Chevron U.S.A. Inc., Chevron Credit Bank, N.A. and Chevron Canada Limited with the U.S. portion closing December 7, 2007 and the Canadian portion closing December 18, 2007. Under the agreement, GE Money Bank in the United States and GE Money in Canada will own and operate the Chevron®- and Texaco®-branded consumer credit cards.

McCarthy Tétrault represented GE with a team that was led by Jonathan Grant, and included Oliver Borgers, Rochelle Graub, Robert Metcalfe, Gabrielle Richards, and James Warnock.

Contact


 
For general information on McCarthy Tétrault Transactions & Cases, please contact [email protected].

Related Area of Expertise


Competition/Antitrust
read /

Financial Services
read /

Sales & Commodity Taxes
read /

Tax
read /

Tax Planning
read /