June 29, 2016 / 9:12 PM / a year ago

BRIEF-Laurentian Bank buys C$1 bln portfolio from CIT Group

June 29 (Reuters) - Laurentian Bank Of Canada :

* Laurentian Bank Of Canada acquires the Canadian equipment financing and corporate financing activities of CIT Group Inc

* Bank believes acquisition will be modestly accretive to its adjusted earnings per share in 2017

* Acquisition will be financed through a $135 million offering of subscription receipts and existing balance sheet liquidity

* Bank believes deal accretive to adjusted earnings per share by approximately 4% in 2018

* Reached agreement to acquire Canadian equipment financing, corporate financing activities of CIT a portfolio of c$1 billion Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below