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Synchrony to buy $6.8 billion receivables portfolio from PayPal

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Synchrony to buy $6.8 billion receivables portfolio from PayPal

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(Reuters) – Consumer financial services company Synchrony Financial <SYF.N> said on Thursday that it would buy $6.8 billion (£5.1 billion) in receivables from PayPal Holdings Inc <PYPL.O>, including the payment processor’s U.S. consumer credit receivables portfolio. The deal is expected to close in the third quarter of 2018, the companies said.

(Reporting by Roopal Verma in Bengaluru)
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