11:55 AM EST - AGF Trust Company : announced today that Laurentian Bank of Canada’s subsidiary B2B Bank completed the acquisition of AGF Trust Company from AGF Management Limited following receipt of all required regulatory authorizations. B2B Bank acquired AGF Trust for a consideration equal to the estimated net book value of the company at closing of approximately $248 million (subject to post-closing adjustments) and has caused AGF Trust to repay subordinated indebtedness and to redeem preferred shares held by AGF Management Limited in an aggregate amount of $173.5 million. The agreement also includes a contingent consideration of a maximum of $20.0 million payable over five years if credit quality reaches certain criteria. AGF Trust Company
shares T.AGF.B are trading down $0.34 at $11.56.
