facebook
twitter
search
search

Chase buying Kohl's credit card business

March 6, 2006 at 3:47 PM

MENOMONEE FALLS, Minn., March 6 (UPI) -- Minnesota-based Kohl's Corp. said Monday it is selling its credit card business to the banking subsidiary of J.P. Morgan Chase & Co.

The big New York financial house will pay about $1.5 billion for the assets, American City Business Journal reported.

Kohl's will use the funds to help buy back $2 billion worth of common stock.

Like Us on Facebook for more stories from UPI.com  
Latest Headlines
Top Stories
Ford recalls 432,000 North American vehicles over software bug
Compact cannon for British armored vehicles
Volvo unveils new child seat concept
New Zealand military receives medium heavy military trucks
BBC to lay off 1,000 people to make up for $234M in lost revenue