Goldman Sachs is picking up General Motors' credit-card business for a price tag of roughly $2.5 billion,Goldman beat out UK-based Barclays for the deal, which gives it more than one million GM cardholders and the approximately $8.5 billion they spend annually, according to The Wall Street Journal.
According to Thursday's report, Goldman and Capital One have reached an agreement on the general terms of the deal, such as top-line price, and plan to finalize the details in the next few weeks. Landing GM's card business would be Goldman's second co-branded consumer credit card and another significant step into the consumer-lending business, following its
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