March 29, 2017 / 9:05 PM / 5 months ago

Synovus to buy Cabela's financial unit - source

March 29 (Reuters) - Synovus Financial Corp will buy the financial unit of outdoor goods retailer Cabela's Inc , a source familiar with the matter told Reuters.

Synovus will keep the deposits held by the unit and resell its credit-card portfolio to Capital One Financial Corp, the source said.

The unit, called World's Foremost Bank, was supposed to be bought by Capital One last year, but the deal wasn't able to get timely regulatory approval. (Reporting by Nikhil Subba in Bengaluru; Editing by Maju Samuel)

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