Home / Business and Economy / RBC, BMO Sell Moneris Stake in C$2B Deal
RBC, BMO Sell Moneris Stake in C$2B Deal
11 Aug
Summary
- Moneris, a leading Canadian commerce solutions provider, is sold for C$2 billion.
- Royal Bank of Canada and BMO Financial Group will each receive 50% of the sale.
- RBC anticipates an after-tax gain of C$475 million from the transaction.
Two major Canadian financial institutions, Royal Bank of Canada and BMO Financial Group, have agreed to sell their jointly owned payment solutions company, Moneris Solutions, for C$2 billion. The buyer is technology investment firm Francisco Partners.
Moneris, which has been operating for 25 years, is recognized as one of Canada's largest providers of commerce solutions, assisting businesses in managing and accepting payments. Each selling bank will receive a 50% share from this transaction.
Royal Bank of Canada has stated that it expects to record an after-tax gain of approximately C$475 million as a result of this sale. The deal is anticipated to be finalized during the first quarter of fiscal year 2027.
