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June 29, 2022
Finance Technologies

Goldman Sachs to buy General Motors’ credit card portfolio

Goldman Sachs will acquire the credit card business of General Motors in a deal worth a reported $2.5 billion. GM’s credit portfolio is worth $8.5bn annually According to Wall Street Journal sources, Goldman has reached an agreement with GM’s card issuer, Capital One. A deal is expected to be finalised by the end of this week. Goldman will gain access to the portfolio after Capital One’s deal with GM is expires in a year. It beat out a rival offer from UK bank Barclays. Rumours about the deal first appeared in August. Unlike other Wall Street giants, Goldman has a…
Goldman Sachs to buy General Motors’ credit card portfolio

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