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Northern Trust To Buy BoISS For €60M

Northern Trust will acquire the fund administration unit of Bank of Ireland, Bank of Ireland Securities Services.

Northern Trust will acquire the fund administration unit of Bank of Ireland, Bank of Ireland Securities Services (BoISS), The Wall Street Journal reports. The deal is valued at about €60 million.

The bank expects to generate equity tier one capital worth €40 million from the sale. The acquisition may increase Northern Trust’s assets under custody and administration in Ireland by €70 billion, adds Bloomberg.

Click here for the story from The Wall Street Journal.

Click here for the additional coverage from Bloomberg.

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