TD Bank to Buy Wells Fargo Canadian Direct Equipment-Finance Business
January 14 2021 - 10:15AM
Dow Jones News
By Colin Kellaher
Toronto-Dominion Bank on Thursday said it agreed to buy Wells
Fargo & Co.'s Canadian direct equipment-finance business for an
undisclosed amount.
The Toronto financial-services company said the Wells Fargo unit
has about 1.5 billion Canadian dollars (US$1.18 billion) in assets
and more than 120 employees.
TD said the acquisition, which it expects to complete in the
first half of the year, would add scale and capabilities to its
existing Canadian equipment-financing business and expand its
presence in core markets.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
January 14, 2021 10:00 ET (15:00 GMT)
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