Market Chatter: Royal Bank of Canada, Bank of Montreal in Talks to Sell Financial Technology Venture to Francisco Partners

MT Newswires Live05-04

Royal Bank of Canada (RY) and Bank of Montreal are in talks to sell their financial technology joint venture Moneris to private equity firm Francisco Partners at a valuation of as much as $2 billion, the Financial Times reported Sunday.

The sale could come together by the summer but the deal may also fall apart, the report said.

The banks and Francisco Partners did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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