Wells Fargo (WFC) Announces Acquisition of Burdale Financial Holdings
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In a transaction that will expand its international commercial finance capabilities, Wells Fargo & Company (NYSE: WFC) announced today that Wells Fargo Bank, N.A. has entered into a definitive agreement with Bank of Ireland to acquire Burdale Financial Holdings Limited (Burdale) and the portfolio of Burdale Capital Finance Inc., which represents approximately $1 billion in loans outstanding from U.S. and U.K. customers.
Headquartered in London, Burdale is a leading provider of comprehensive asset-based lending and operates in and across the UK and US markets. Upon completion of the transaction, which is expected to close in early 2012, Burdale will become part of Wells Fargo Capital Finance, the asset-based lending group of Wells Fargo.
Headquartered in London, Burdale is a leading provider of comprehensive asset-based lending and operates in and across the UK and US markets. Upon completion of the transaction, which is expected to close in early 2012, Burdale will become part of Wells Fargo Capital Finance, the asset-based lending group of Wells Fargo.
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