The Toronto-Dominion Bank (NYSE: TD) and Wells Fargo & company (NYSE: WFC) have reported a definitive agreement that is subject to certain closing condition where TD will acquire Wells Fargo’s Canadian direct Equipment Finance Business. This acquisition will add scale and capabilities to TD’s current Canadian Equipment Financing business and expand its presence in core. The Toronto-Dominion Bank (NYSE: TD) and Wells Fargo & company (NYSE: WFC) have reported a definitive agreement that is subject to certain closing condition where TD will acquire Wells Fargo’s Canadian direct Equipment Finance Business.
TD Bank Group to acquire Wells Fargo s Canadian Direct Equipment Finance Business
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Acquisition strengthens and expands TD Business Banking capabilities across Canada
TORONTO, Jan. 14, 2021 /PRNewswire/ - The Toronto-Dominion Bank ( TD ) (TSX andNYSE: TD) and Wells Fargo & Company ( Wells Fargo ) (NYSE: WFC) today announced a definitive agreement, subject to certain closing conditions, for TD to acquire Wells Fargo s Canadian Direct Equipment Finance business.
The acquisition of Wells Fargo s Canadian Direct Equipment Finance business is expected to add scale and capabilities to TD s existing Canadian Equipment Financing business and expand TD s presence in core markets. Wells Fargo s Canadian Direct Equipment Finance s direct origination model is expected to allow TD to better serve a more diverse set of business customers in need of competitive equipment loans, leases, and customized financing services.