The Bank of Montreal is selling 16 rural branches in the Province of Quebec with over $675 million in funds under administration, to National Bank of Canada. The transaction is valued at approximately $15 million. The changeover takes place between January 13 and February 16, 2001.
The Bank of Montreal was represented by a team from Fraser Milner Casgrain LLP that included Mike Kaplan, Dennis Wiebe, Susan Paul and Charles Newman in Toronto and Constantine Troulis, Guy Lavoie and Josée Lefebvre in Montreal. Keith Perrett of The Bank of Montreal’s legal department coordinated all legal matters on the transaction on behalf of BMO. National Bank of Canada was represented by Marc Beauchemin, François Renaud, Johanne Savard and Marie-France Gagnon of Desjardins Ducharme Stein Monast.