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

Published 2016-06-29, 05:07 p/m
© Reuters.  BRIEF-Laurentian Bank buys C$1 bln portfolio from CIT Group
LB
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June 29 (Reuters) - Laurentian Bank Of Canada LB.TO :
* 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: LB.TO

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