Deals
Wells Fargo Sells Trust Unit to Computershare for $750 Million
Photographer: Carla Gottgens/Bloomberg
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Wells Fargo & Co., disposing of units to simplify operations, agreed to sell its corporate trust business to Australia’s Computershare Ltd. for $750 million.
About 2,000 employees will transfer to Computershare as part of a transaction that’s expected to close in the latter half of this year, Wells Fargo said Tuesday in a statement. The buyer said the business will complement its presence in North America.