Laurentian Bank of Canada has reached agreements to sell its commercial operations to Fairstone Bank and its retail and SME banking portfolio to National Bank of Canada. Fairstone will pay C$40.50 per share in cash, totaling C$1.9bn for the deal. The transaction is expected to close by late 2026, pending regulatory and shareholder approvals. National Bank will acquire all Retail/SME assets and liabilities, as well as syndicated loans totaling approximately $0.9bn. Laurentian Bank will close its branches in Québec and manage staff changes before the transfer of its business to National Bank and Fairstone Bank.

Read more at Yahoo Finance: Laurentian Bank to sell operations to Fairstone Bank, National Bank of Canada