GE Money Bank and GE Money acquire Chevron’s proprietary consumer credit card business
December 18, 2007
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.