Reuters: Private Equity: Apollo unit to buy Bank of America's Irish credit card portfolio

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Apollo unit to buy Bank of America's Irish credit card portfolio Mar 21st 2012, 13:18 March 21 | Wed Mar 21, 2012 9:18am EDT March 21 (Reuters) - A fund affiliated with Apollo Global Management LLC said it will acquire the Irish consumer credit card portfolio of Bank of America Europe Card Services. The transaction, terms of which were not disclosed, will preserve about 250 jobs in Ireland, Apollo said in a statement. The fund -- Apollo European Principal Finance Fund I -- said the portfolio includes more than 200,000 customer accounts with a balance of over 650 million euros ($859.33 million) of receivables. (Reporting by Aman Shah in Bangalore; Editing by Supriya Kurane) ($1 = 0.7564 euros)

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