TD acquisition of Wells Fargo Canadian Direct Equipment Finance business

TD agreed to acquire Wells Fargo’s Canadian Direct Equipment Finance business on January 14, 2021 and completed the acquisition May 1, 2021. TD subsequently disclosed approximately CAD 1.5 billion consideration and approximately CAD 1.4 billion net book value. These approximate measures remain narrative only. The initial approximately CAD 1.5 billion assets figure described the acquired portfolio, not purchase price. Wells Fargo retained its other Canadian asset-based lending and distribution-finance activities. Wells Fargo Securities advised the seller.