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Northern Trust To Buy BoISS For €60M
Northern Trust will acquire the fund administration unit of Bank of Ireland, Bank of Ireland Securities Services.
Northern Trustwill acquire the fund administration unit ofBank of Ireland,Bank of Ireland Securities Services(BoISS),The Wall Street Journalreports. The deal is valued at about €60 million.
The bank expects to generate equity tier one capital worth €40 million from the sale. The acquisition may increase Northern Trust’s assets under custody and administration in Ireland by €70 billion, addsBloomberg.
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