Bank unable to reach agreement with Manulife Financial
Bank of Montreal and Manulife Financial have been unable to agree to final terms on the sale of the bank’s share of the lands at First Canadian Place, and will not proceed with the transaction.
The conditional sale of the property was announced in August and was to have closed this month during the bank’s fourth quarter.
Bank of Montreal owns a 25% undivided interest in the lands at First Canadian Place, Manulife Financial owns 25%, and O & Y FPT Inc. owns the remaining 50%.
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