ADVFN - Advanced Financial Network.
HOME» NYSE » W » WFC Stock Price » WFC Stock News

Wells Fargo Share News

 Wells Fargo & Co. (new) Stock Price
WFC Stock Price
 Wells Fargo & Co. (new) Stock Chart
WFC Stock Chart
 Wells Fargo & Co. (new) Stock News
WFC Stock News
 Wells Fargo & Co. (new) Company Information
WFC Company Information
 Wells Fargo & Co. (new) Stock Trades
WFC Stock Trades

Citigroup To Buy Loans From Societe Generale

Citigroup Inc. (C) is buying a portion of Societe Generale SA's (SCGLY, GLE.FR) portfolio of shipping loans, joining the group of U.S. banks buying businesses and assets from shrinking European banks. The two banks said they won't disclose the terms of the deal, and a short statement from Citi only said the two "are committed to working in a coordinated manner in order to make the transition as timely and efficient as possible for the borrowers." A person familiar with the matter said Citi paid $1.3 billion for the loans. The sale was earlier reported by Reuters. Many U.S. bankers have said they're interested in buying assets and businesses European banks are trying to shed in their effort to built capital. While some bankers simply take advantage of better loan pricing as European banks stop competing for borrowers in the U.S., others, particularly Wells Fargo & Co. (WFC), have been aggressively buying portfolios. Competition was strong from U.S. banks for Royal Bank of Scotland Plc's (RBS, RBS.LN) aviation-leasing business, which eventually went to Sumitomo Mitsui Financial Group Inc. (SMFG, 8613.TO). Earlier this week, Eurohypo AG sold $760 million in commercial real estate loans in major markets around the U.S. to U.S. Bancorp (USB), Wells Fargo and Blackstone Group LP (BX) for out 95 cent on the dollar. Wells Fargo Chief Executive John Stumpf and Chief Financial Officer Timothy Sloan have repeatedly said the San Francisco bank--the fourth largest by assets in the U.S.--is looking to buy more U.S. assets from European banks. It got $15 billion of loans when it bought BNP Paribas SA's (BNPQY, BNP.FR) energy lending business, and loans from Allied Irish Banks (AIBYY, ALBK.DB) and Bank of Ireland. Mr. Stumpf told investors in May, "As Europe continues to retreat back to their home countries and divest and so forth, we've been kicking tires and we've actually bought a few things that we really liked." Write to Matthias Rieker at matthias.rieker@dowjones.com

Stock News for Wells Fargo (WFC)
DateTimeHeadline
08/23/201612:45:46Current Report Filing (8-k)
08/23/201611:07:19Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
08/23/201611:06:23Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
08/23/201611:03:53Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
08/23/201610:59:11Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
08/23/201610:17:00Hyundai Capital America, Intellectual Ventures and World Vision...
08/22/201617:40:00Wells Fargo to Pay $4 Million to Settle Student-Loan Servicing...
08/22/201617:22:00Wells Fargo to Pay $4 Million to Settle Student-Loan Servicing...
08/22/201613:00:00Wells Fargo Insurance Names Mary-Beth Hahn Head of Risk Management...
08/22/201610:18:51Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
08/19/201614:02:37Current Report Filing (8-k)
08/19/201611:00:00Wells Fargo & Company Declares Cash Dividends on Preferred Stock
08/19/201610:11:41UPDATE -- NEXT Awards Funds Innovation, Provides Increased Access...
08/19/201610:00:00PRIDE Industries, Roseville Receives $35,000 to Help Create Jobs...
08/18/201614:12:56Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
08/18/201612:16:28Current Report Filing (8-k)
08/18/201610:33:28Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
08/17/201615:18:30NEXT Awards Funds Innovation, Provides Increased Access to Responsible...
08/17/201611:59:15Current Report Filing (8-k)
08/17/201611:54:04Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)

Wells Fargo and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2015 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad