June 20, 2018
On June 7, 2018, Flexiti Financial, a fintech company controlled by Globalive Capital Inc., announced the acquisition of Toronto-Dominion Bank’s (TD Bank) Canadian private label credit card portfolio for $250 million. The acquisition provides Flexiti and Globalive with access to over one million customers and 900 businesses requiring alternative financing, thereby making Flexiti Financial a leading private label credit card issuer in Canada.
Miller Thomson advised Flexiti Financial with respect to the acquisition and financing of the transaction which comprised of a team led by Alfred Apps (Corporate/ M&A) and included James Rumball (structured finance), Mack Hosseinian, Eric Kleine, Corey Yermus and Konstantin Starostin (Corporate/ M&A)
