The Firm is representing Best Buy Co., Inc. (NYSE: BBY) in connection with the announced agreement by Citigroup to purchase from Capital One Financial Corporation (NYSE: COF) and issue and manage for Best Buy the $7 billion portfolio of Best Buy-branded private label and co-branded credit cards in the United States. The transaction is subject to customary conditions.
Best Buy is the world’s largest multi-channel consumer electronics retailer with stores in the U.S., Canada, China, Europe and Mexico. It is the 11th largest online retailer, has the number one customer loyalty program of its kind and more than 1.6 billion visitors to its stores and website each year.
The Simpson Thacher team includes Maripat Alpuche and Matt Rogers.
