Target Nears Credit Card Deal

Updated from 4:42 p.m. EDT

Target(TGT Quote) is in talks with an investment partner to sell half of its credit card receivables business for roughly $4 billion.

The discount retailer, in a statement Wednesday, said the proposed deal with the unnamed firm is still subject to a final agreement and "acceptable economics" at the time of closing. Pending those conditions, the company said a closing during the second calendar quarter "seems possible."

Sources familiar with the situation tell TheStreet.com that Target, via its broker Goldman Sachs (GS Quote), has been in negotiations over the past several weeks with small group of potential buyers that include Citigroup(C Quote) and JPMorgan(JPM Quote). ...