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Home Trust agrees to acquire CFF Bank.

Global Banking News-August 11, 2015--Home Trust agrees to acquire CFF Bank

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Global Banking News - 11 August 2015

Home Capital Group Inc. (HCG.TO) has announced an agreement under which the company will acquire, through its principal subsidiary Home Trust, all outstanding common shares of CFF Bank from MonCana Capital Corporation, a wholly owned subsidiary of Canadian First Financial Group (CFFG).

The purchase is a private all-cash transaction worth approximately USD15m. The proposed transaction is subject to customary closing conditions, including approval by CFFG shareholders, the Competition Bureau and the federal Minister of Finance. The transaction is expected to close in autumn 2015.

CFF Bank is a Canadian retail bank offering deposit, mortgage and personal banking products. CFF Bank distributes these products through a number of channels, including through 37 owner-managed locations across Canada called Canadian First Financial Centres.

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Publication:Global Banking News (GBN)
Date:Aug 11, 2015
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