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GENTRA INC. CLOSES SALE TO ROYAL BANK

 TORONTO, Sept. 1 /PRNewswire/ -- Gentra Inc. today completed the sale of substantially all of its Canadian and international subsidiaries to Royal Bank of Canada.
 The closing of the transaction follows receipt of final Ontario Court approval August 30 and a majority vote in favor of the company's plan of arrangement by all of Gentra's security holders.
 Gentra Inc. will continue as a publicly traded company with $3.8 billion in assets. It has over 200 employees based in Seattle, London and Toronto. Its primary business will be the management and collection of its loan portfolios.
 -0- 9/01/93
 /CONTACT: Sheila Robb of Gentra Inc. public affairs, 416-981-6655/


CO: Gentra Inc.; Royal Bank of Canada ST: IN: FIN SU:

SH -- NY056 -- 8046 09/01/93 15:01 EDT
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Publication:PR Newswire
Date:Sep 1, 1993
Words:128
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