By Angela Chen
Regional bank Huntington Bancshares Inc. (HBAN) on Tuesday said
it agreed to buy Macquarie Equipment Finance Inc. to expand its
technology offerings and presence in Michigan.
Financial terms of the deal weren't disclosed.
Bloomfield Hills, Mich.-based Macquarie Equipment Finance, a
provider of specialized technology financing, is part of
Australia's Macquarie Group Ltd. (MQG.AU).
Huntington said it will acquire about $900 million of assets and
$630 million of debt and other liabilities. The deal should add to
Huntington's earnings in the first year, the company said. It will
also add 165 jobs.
The purchase is Columbus, Ohio-based Huntington's latest
investment in Michigan. Huntington in September completed a
24-branch acquisition from Bank of America Corp. (BAC).
The deal is expected to close by March 31.
Write to Angela Chen at angela.chen@wsj.com
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