Apollo Global Buys BoA Credit Card Portfolio

A fund affiliated with Apollo Global Management said it will acquire the Irish consumer credit card portfolio of Bank of America Europe Card Services. The transaction, terms of which were not disclosed, will preserve about 250 jobs in Ireland, Apollo said in a statement.

(Reuters) – A fund affiliated with Apollo Global Management LLC said it will acquire the Irish consumer credit card portfolio of Bank of America Europe Card Services.

 

The transaction, terms of which were not disclosed, will preserve about 250 jobs in Ireland, Apollo said in a statement.

 

The fund — Apollo European Principal Finance Fund I — said the portfolio includes more than 200,000 customer accounts with a balance of over 650 million euros ($859.33 million) of receivables. (Reporting by Aman Shah in Bangalore; Editing by Supriya Kurane) ($1 = 0.7564 euros)