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GE Money announces Club La Costa deal

Amanda Jarvis

May 18, 2006

The deal is estimated to be worth over £80 million in future revenue.

GE Money Home Lending has been dealing with Club La Costa for over seven years and is pleased to further build upon its long-standing working relationship. The deal will be an exclusive arrangement to offer their point of sale finance and both sides of the partnership are looking forward to building upon their existing strong working relationship.

Club La Costa, which has been established in the timeshare market for over 22 years, has grown from a small family-run concern to one of Europe’s leading names in the industry, with over 21 resorts and 1,500 apartments throughout Europe.

Giacomo Gigantiello, director of unsecured lending at GE Money, commented: “We have built a strong working relationship with Club La Costa over the past seven years and are delighted to announce this new two-year deal. We have been operating in this market for 20 years and have seen many changes, and will continue to leverage our unique experience in this business and look to provide products and services that will enhance our value proposition. We aim to support further industry growth and this deal underlines our ongoing commitment to this business sector.”

Patrick Ingram, group finance director at Club La Costa added: “Without the finance offering supplied by GE Money Home Lending, we simply couldn’t grow as quickly – especially to the levels we have witnessed in the past seven years. GE Money Home Lending allows us to invest, grow and attract new customers. The key is to create a virtuous circle of delivery to the market. We are delighted to be extending our long term partnership with GE to allow us to continue the excellent work we have done together to grow our business.”


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