Canadian challenger bank EQB Inc. won government approval for its deal to acquire the mass-market banking arm of Loblaw Cos. and said the transaction is set to close this summer.
Photographer: Piotr Swat/SOPA Images/LightRocket/Getty Images
Canada’s EQB Inc., a bank holding company, sold C$200 million ($146 million) of additional tier one securities on Monday, according to people with knowledge of the matter and confirming an earlier Bloomberg report.
EQB Inc.’s stock rose the most in more than a year after the Canadian lender agreed to buy the banking portfolio of the country’s largest supermarket chain.
A shopper exits a Loblaw Cos. grocery store in Toronto, Ontario, Canada, on Tuesday, April 30, 2019. Loblaw's underappreciated ability to manage costs will help it weather profitability challenges in Canada's highly competitive food and drug retail markets.
Canadian lender EQB Inc. is buying the banking division of the country’s largest supermarket chain to boost its deposit and credit card businesses.
Shoppers browse produce at a Loblaw Cos. grocery store in Toronto, Ontario, Canada, on Tuesday, April 30, 2019. Loblaw's underappreciated ability to manage costs will help it weather profitability challenges in Canada's highly competitive food and drug retail markets.
Anmelden
