November 16, 2017 / 1:53 PM / 9 months ago

Synchrony to buy $6.8 billion receivables portfolio from PayPal

(Reuters) - Consumer financial services company Synchrony Financial said on Thursday that it would buy $6.8 billion in receivables from PayPal Holdings Inc, including the payment processor’s U.S. consumer credit receivables portfolio.

FILE PHOTO: The PayPal app logo seen on a mobile phone in this illustration photo October 16, 2017. REUTERS/Thomas White/Illustration/File Photo

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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