Ally Financial Completes $4.1B Asset Sale to RBC (RY)
- Wall Street drops as banks, health stocks weigh
- BAT Reaches Deal to Acquire Reynolds American (RAI) for $49 Billion
- Morgan Stanley (MS) Tops Q4 EPS by 17c
- Trump, Brexit uncertainty hit stocks and dollar, gold jumps
- Pre-Open Stock Movers 01/17: (FWP) (CLSN) (GEVO) Higher; (ADHD) (CBK) (UEC) Lower (more...)
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
- ADP (ADP) Acquires The Marcus Buckingham Company; Terms Not Disclosed
- Pan American Silver (PAAS) to Acquire Joaquin Project from Coeur Mining (CDE) in $25M Deal
- Digital Ally (DGLY) 'disappointed' in Kansas U.S. District Court TASER (TASR) Case Dismissal
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!