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Alliance Data Systems to buy retailer's private label credit card portfolio

Alliance Data SystemsCorp. has agreed to buy The Children's Place Inc.'s private label creditcard portfolio.

The deal is expected to close in the fourth quarter.A Citigroup Inc. unit currentlyissuesthe Children's Place card.

The company's Columbus, Ohio-based card services business agreedto provide private label credit card services for The Children's Place. A tailoredcredit card program will be created for the Secaucus, N.J.-based specialty apparelretailer.