PNC Financial Services Group $1.25 billion acquisition of ECN Capital C&V business

21/2/2017

Public acquisition

Value:

$ 1.25 billion

Status:

Announced

Date:

21/2/2017

Overview:

PNC Financial Services Group has acquired ECN Capital's US commercial and vendor business in a $1.25 billion deal.
The acquisition includes $1.075 billion in ECN assets.
Citigroup Global Markets acted as financial adviser for PNC and Macquarie Capital was lead financial adviser for ECN.
The transaction is expected to close in the second quarter of 2017.

Kurt Stumpo - Journalist

Jurisdictions:

Canada
United States

Deal type:

Public acquisition

Practice area:

M&A

Industry sector:

Financial services

Firms:

Dechert

Party: ECN Capital (Seller)

Lawyer: Derek Winokur

Wachtell Lipton Rosen & Katz

Party: PNC Financial Services Group (Acquirer)

Lawyers: Edward Herlihy, Nicholas Demmo

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