India, May 12 -- BMO Financial Group (BMO.TO,BMO) announced the signing of a definitive agreement with Stonepeak for the sale of BMO's Transportation Finance and Vendor Finance businesses, including related loan portfolios in the United States and Canada. Stonepeak will acquire the assets for cash consideration and an earnout contingent upon the business achieving specified future performance targets. BMO will use a portion of the consideration to invest an approximate 19.9% equity interest in the new entity.
BMO expects to record a net after-tax charge of approximately C$0.9 billion primarily related to goodwill in the third quarter of 2026. The transaction is expected to close in the fourth quarter of fiscal 2026.
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