Acquisition strengthens and expands TD Business Banking capabilities across Canada
TORONTO, Jan. 14, 2021 / CNW / – The Toronto-Dominion Bank (“TD”) (TSX and NYSE: TD) and Wells Fargo & Company (“Wells Fargo”) (NYSE: WFC) today announced a definitive agreement, subject to certain closing conditions, for TD to acquire the Canadian direct equipment financing business of Wells Fargo.
Acquisition of Wells Fargo’s Canadian Direct Equipment Finance business is expected to expand the scale and capabilities of TD’s existing Canadian equipment finance business and increase TD’s presence in core markets . Wells Fargo Canadian Direct Equipment Finance’s direct origination model is expected to enable TD to better serve a more diverse set of business customers who require customized equipment loans, leases and finance services.
“In today’s tough operating environment, businesses are looking to their bankers to help them keep their fleets up to date, deliver new construction equipment to work…
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- According to the source TD Bank Group acquires Canadian direct equipment financing company from Wells Fargo
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