Split sale to impact 700 positions in retail and small business segment
The bank announced a split sale to Fairstone Bank, National Bank last year
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According to PwC, 642 deals worth $138.8 billion were signed in Q3
The bank announced this week it will be split and sold to Fairstone and National Bank
The deal will see Loblaw take about a 16% stake in the bank
Their combined salesforce will be more than 5,000, across 150-plus locations
Fairstone is buying its commercial operations for $1.9B
Regulator alleges banker tipped friend to pending takeover in 2021