RBC to acquire Ally’s Canadian auto finance business
Acquisition positions RBC as a leader in auto financing in Canada TORONTO, Oct. 23, 2012 /CNW/ – Royal Bank of Canada (RY on TSX and NYSE) today announced a definitive agreement to acquire the Canadian auto finance and deposit business of Ally Financial Inc. (“Ally Canada”) for a $1.4 billion investment net of excess capital. Subject to certain closing adjustments and including the excess capital, this results in total consideration of $3.1 to $3.8 billion, depending on the size of the dividend taken out by the seller prior to closing. The acquisition aligns with RBC’s...
Read MoreCanada: Types Of Infrastructure Ontario Projects & How Financing Works
Now that you know what Infrastructure Ontario is, what types of projects does Infrastructure Ontario fund? Infrastructure Ontario projects tend to fall within two types: Design Build Finance. In a Design Build Finance project, the contractor not only builds, but the contractor and a related project company obtain financing for the project as well. Design Build Finance Maintain. In a Design Build Finance Maintain project, the contractor and related project company finance the project and the contractor builds and performs maintenance and repairs for the facility for an extended period of time...
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