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