Capital One Pays $200 Million for Cabela’s Credit Card Division
The bank disclosed the purchase price to the federal Office of the Comptroller of the Currency, according to a report in The Lincoln Journal Star. This price reflects the difference between the assets and liabilities the Cabela’s credit card division will hold when it is purchased by Bass Pro.
Bass Pro and Cabela’s are rival outdoor recreation retailers. They reached a $4.5 billion deal in October, and at that time, both retailers said Capital One would eventually acquire Cabela’s credit card portfolio.