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BRIEF-Canadian Imperial Bank Of Commerce to acquire Geneva Advisors

Published 2017-07-10, 09:14 a/m
© Reuters.  BRIEF-Canadian Imperial Bank Of Commerce to acquire Geneva Advisors
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July 10 (Reuters) - Canadian Imperial Bank Of Commerce CM.TO :

* Canadian Imperial Bank Of Commerce - to acquire Geneva Advisors for up to US$200 million

* Canadian Imperial Bank Of Commerce says deal is expected to reduce CIBC 's common equity tier 1 capital ratio by approximately 6 basis points at closing

* Canadian Imperial Bank Of Commerce-under terms of agreement US$135 million to be paid at closing, US$65 million contingent on meeting future performance conditions

* Canadian Imperial Bank Of Commerce- total purchase price including contingent consideration to be paid 25% in cash, 75% in form of CIBC common shares

* Canadian Imperial Bank Of Commerce says deal is expected become accretive to CIBC's earnings per share in fiscal 2019

* Canadian Imperial Bank Of Commerce - on closing, Geneva Advisors business will become part of CIBC Atlantic Trust Private Wealth Management Source text for Eikon: ID:nPn2nsVGja Further company coverage: CM.TO

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