Truist Financial Corporation Has Agreed To Sell Sterling Capital Management To Guardian Capital Group's Subsidiary, Transaction Includes Payment Of $70M On Closing, Anticipated Closing Of Deal Is In Q2
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Truist Financial Corporation (TFC) has agreed to sell its Sterling Capital Management to Guardian Capital Group's subsidiary for $70M, with the deal expected to close in Q2.
February 02, 2024 | 12:26 pm
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Truist Financial Corporation is selling Sterling Capital Management to a subsidiary of Guardian Capital Group for $70M, expected to close in Q2.
The sale of Sterling Capital Management could be seen as a strategic move for TFC, potentially improving its financial position and focusing on core operations. The $70M income from the sale could positively impact TFC's financials in the short term, leading to a likely increase in stock price.
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