Ally Financial Completes $4.1B Asset Sale to RBC (RY)
- Futures flat as investors brace for earnings, Fed meet
- Netflix (NFLX) Director Jay Hoag Scoops Up 600,000 Shares
- Oil falls towards $44, lowest since May, on glut worries
- McDonald's (MCD) Tops Q2 EPS by 6c; Comps Growth Shy of Views
- Caterpillar (CAT) Tops Q2 EPS by 13c, Trims Outlook In-Line with Street
Ally Financial Inc. (Ally) today announced that the sale of its Canadian auto finance operation, Ally Credit Canada Limited, and ResMor Trust to Royal Bank of Canada (NYSE: RY) has been completed. Ally received $4.1 billion USD for the business in the form of a $3.7 billion payment at closing and $400 million of dividends paid following the announcement of the transaction. Total proceeds represent a premium to book value of approximately $620 million.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Viper Energy Partners (VNOM) Declares $0.189 Quarterly Dividend; 4.2% Yield; Updates on Recent M&A Activity
- Anchor Bancorp (ANCB) to Evaluate Strategic Options
- First South Bancorp (FSBK) Acquires MSR Portfolio
Create E-mail Alert Related CategoriesCorporate News, Mergers and Acquisitions
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!