Date Closed

April 3, 2006

Lead Office

Toronto

Value

1.30 Billion CAD

On April 3, 2006, GE Money, the Canadian consumer lending unit of General Electric Company, completed the acquisition of Hudson's Bay Company's financial services business for approximately C$1.3 billion. As part of the acquisition, GE Money and Hudson's Bay entered into a 10-year alliance whereby GE Money will provide credit marketing and analytic support, credit servicing and customer care for Hudson's Bay Company's 3.1 million retail cardholders.

McCarthy Tétrault LLP  advised GE with a team led by Barry Ryan that included Robert Metcalfe, Jonathan Grant, Steven Rapkin, Nancy Carroll, Sean Sorensen, Theo Colombo, Olivier Kaade, Julie Belley Perron and Tara Rosenblatt (business), Gabrielle Richards and James Warnock (tax), Oliver Borgers (competition), Gregory Winfield and Lorraine Allard (pension), Robb Macpherson (labour and employment), Douglas Thomson and Joanna Rosengarten (environmental) and Danny Grandilli and David Bross (real estate).