Citigroup, Inc. (NYSE:C) entered into an agreement to acquire portfolio of Best Buy credit card accounts from Capital One Financial Corp. (NYSE:COF) on February 18, 2013. Citigroup Inc. also signed an agreement to issue and manage Best Buy-branded cards in the United States. The transactions are subject to customary conditions and are anticipated to close in the third quarter of 2013. Citigroup said it does not expect the transactions to be material to its earnings in 2013. Citigroup acted as the financial advisor for Citigroup. Maripat Alpuche and Matt Rogers of Simpson Thacher & Bartlett LLP acted as legal advisor for Best Buy. Scott Petepiece of Shearman & Sterling LLP acted as legal advisor for Citigroup.

Citigroup, Inc. (NYSE:C) completed the acquisition of portfolio of Best Buy credit card accounts from Capital One Financial Corp. (NYSE:COF) on September 6, 2013.