RBC and BMO to sell off Canadian payment giant Moneris in $2-billion deal

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The sale involves BMO and RBC receiving $1 billion each from the $2-billion deal — This indicates a significant financial gain for the banks, which could be reinvested or distributed as dividends.
Moneris will join Francisco Partners' portfolio of payment processing companies — This suggests potential synergies in technology and customer base expansion.

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RBC and BMO to sell off Canadian payment giant Moneris in $2-billion deal

BMO and RBC are selling off Moneris, one of Canada’s largest payment processors, to US-based private equity firm Francisco Partners. The news: The two Canadian banks announced an agreement to sell their co-owned operation for $2 billion CAD on Monday evening.

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