BB&T, SunTrust Divest 28 Branches to Proceed With Merger
08 Noviembre 2019 - 11:02AM
Noticias Dow Jones
By Patrick Thomas
Regional lenders BB&T Corp. (BBT) and SunTrust Banks Inc.
(STI) have agreed to divest 28 branches in order to continue with
their roughly $28 billion merger.
The Justice Department said Friday that the banks have agreed to
divest certain branches across North Carolina, Virginia and Georgia
with about $2.3 billion in deposits to resolve antitrust
concerns.
The divested assets will include all deposits and loans
associated with the branches, the U.S. Department of Justice
said.
"Today's settlement ensures that banking customers across
Virginia, North Carolina and Georgia will continue to have access
to competitively priced banking products, including loans to small
businesses, while preserving the investments in innovation and
technology this merger is expected to generate," assistant attorney
general Makan Delrahim said in a statement.
BB&T and SunTrust first announced the deal in February. The
combined company will be based in Charlotte, N.C., and will adopt
the name Truist Financial Corp. when they close their merger.
Write to Patrick Thomas at patrick.thomas@wsj.com
(END) Dow Jones Newswires
November 08, 2019 11:47 ET (16:47 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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