Ally Financial Completes $4.1B Asset Sale to RBC (RY)

February 1, 2013 8:00 AM EST
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.

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