On September 10, 2015, BMO Financial Group (“BMO”), Canada’s fourth-largest lender, announced the acquisition of GE Capital's Transportation Finance business in the U.S. and Canada.
The proposed transaction will grow BMO’s U.S. commercial banking business.
GE Capital's Transportation Finance business is the largest financier to the commercial truck and trailer segment in North America with a track record of providing wholesale and commercial end user financing solutions to the transportation industry for more than 40 years.
The transaction closed on December 1, 2015.
Osler advised on all Canadian regulatory and commercial aspects of the transaction, including on matters relating to Bank Act and consumer protection with a team comprised of Doug Marshall and Daniel Fombonne (Mergers & Acquisitions), Kashif Zaman, Kevin Whittam and Stephen Clark (Banking and Finance), Patrick Marley, Monica Biringer, David Davachi, Sean Aylward and D’Arcy Schieman (Taxation), Doug Rienzo and Jon Marin (Pensions & Benefits), Daniel Wong (Employment & Labour), Kelly Moffatt (IT/IP), Shuli Rodal (Competition/Antitrust) and Adam Kardash (Privacy).