Coles Myer sells unit

PUBLISHED : Thursday, 03 August, 1995, 12:00am
UPDATED : Thursday, 03 August, 1995, 12:00am

COLES Myer expects to book a A$100 million (about HK$572 million) profit following an agreement to sell its credit card operations to a subsidiary of General Electric for about US$133 million.

The Australian retailer said the sale of its Australian Retail Financial Network to GE Capital Services, an operator of private-label credit cards, was expected to be completed later this month.