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

Wed Jun 29, 2016 5:07pm EDT
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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)