Question
(redacted)
VIA FEDERAL EXPRESS
March 20, 1984
Dana Abrahamsen, Esq.
Bureau of Competition
Room 396
FEDERAL TRADE COMMISSION
Sixth & Pennsylvania Avenues, N.W.
Washington, D.C. 20580
RE: Exemption from Premerger Notification Filing-
Receivables Purchase
Dear Dana:
This will confirm our conversation of today. As I explained, (redacted) proposes to purchase additional accounts receivable from the same seller who recently sold (redacted) approximately $100 billion in receivables. The latter transaction was fully described in (redacted) letter to John Sipple of March 6 (copy enclosed), and the newly-proposed purchase is identical in all but two respects. First, the amount of the purchase is approximately $50 million. Second, another finance company will have a 50 percent participation in the purchase (thus (redacted) actual share of the receivables will be approximately $25 million). As I indicated, the $50 million in receivables represent approximately 3.58% of the sellers retail notes and lease financing and 1.98% of the sellers total receivables.
You agreed that under the facts as stated above, it would be unnecessary to make a premerger notification filing. If this is incorrect, please call me as soon as possible at (redacted).
Sincerely,
(redacted)