RBC and BMO agree C$2bn Moneris sale
Royal Bank of Canada and Bank of Montreal have agreed a C$2 billion cash deal to sell payments processing joint venture Moneris to private equity firm Francisco Partners.
Royal Bank of Canada and Bank of Montreal have agreed a C$2 billion cash deal to sell payments processing joint venture Moneris to private equity firm Francisco Partners.
BELLINGS Intelligence Score: 28
Why it matters
The sale of Moneris, a C$2 billion payments processing joint venture by two major Canadian banks to a private equity firm, is a notable market transaction reflecting strategic shifts in financial services, but it is a routine asset sale without broader systemic or regulatory implications.
Sources
Finextra
RBC and BMO agree C$2bn Moneris sale
Royal Bank of Canada and Bank of Montreal have agreed a C$2 billion cash deal to sell payments processing joint venture Moneris to private equity firm Francisco Partners.