Wednesday, November 30, 2005
RBC buys Abacus Financial Services Group
NEW YORK, Nov 30 (Reuters) - Royal Bank of Canada (RBC) (RY.TO: Quote, Profile, Research) on Wednesday said it bought wealth management group Abacus Financial Services Group Limited.
The companies did not disclose the terms of the deal, but said it had already been approved by Abacus shareholders and relevant regulators.
RBC said the acquisition is expected to be virtually neutral to earnings in 2006 and add slightly to earnings in 2007.
The companies did not disclose the terms of the deal, but said it had already been approved by Abacus shareholders and relevant regulators.
RBC said the acquisition is expected to be virtually neutral to earnings in 2006 and add slightly to earnings in 2007.
