Royal Bank of Canada to Acquire Abacus Financial Services Group Limited.
PR Newswire Europe, November, 2005
JERSEY and TORONTO, November 30 /PRNewswire/ -- Royal Bank of Canada (TSX: RY ; NYSE: RY) and the shareholders of Abacus Financial Services Group Limited (Abacus) today announced that Royal Bank of Canada (RBC) has acquired Abacus. The terms of the transaction were not disclosed.
The transaction has been approved by Abacus shareholders and all relevant regulators. Both sides have begun working toward seamlessly integrating the operations of the companies with an immediate focus on creating value for our clients and our shareholders.
"Abacus' talent, expertise and reputation for client service makes this an excellent fit on strategic, cultural and economic factors," said Michael Lagopoulos, President and CEO, Global Private Banking, RBC. The...
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