TSX:BMOBanks
BMO Sale To Stonepeak Reshapes Capital Use And Investor Outlook
Bank of Montreal (TSX:BMO) has agreed to sell its transportation and vendor finance businesses to Stonepeak in a multi billion dollar transaction.
The deal includes BMO retaining a minority interest in the spun off unit, so the bank keeps some exposure to the divested operations.
The transaction is intended to reorient BMO's business mix and free up capital for other priorities within the bank.
For you as an investor, this move sits at the intersection of traditional banking and specialized...