February 14, 2018 / 9:50 PM / 5 months ago

BRIEF-Popular Has Agreed To Acquire Wells Fargo’S Auto Finance Business In Puerto Rico

Feb 14 (Reuters) - Popular Inc:

* POPULAR HAS AGREED TO ACQUIRE WELLS FARGO’S AUTO FINANCE BUSINESS IN PUERTO RICO

* POPULAR INC - PURCHASE PRICE FOR ALL-CASH TRANSACTION IS EXPECTED TO BE APPROXIMATELY $1.7 BILLION

* POPULAR INC - PURCHASE PRICE FOR ALL-CASH TRANSACTION IS EXPECTED TO BE APPROXIMATELY $1.7 BILLION

* POPULAR INC - ‍AS PART OF TRANSACTION, BANCO POPULAR WILL ACQUIRE APPROXIMATELY $1.5 BILLION IN RETAIL AUTO LOANS AND $340 MILLION IN COMMERCIAL LOANS​

* POPULAR INC - ‍BANCO POPULAR WILL ALSO ACQUIRE CERTAIN OTHER ASSETS AND ASSUME CERTAIN LIABILITIES OF RELIABLE​

* POPULAR INC - BANCO POPULAR WILL FUND PURCHASE PRICE WITH EXISTING LIQUIDITY

* POPULAR INC - ‍POPULAR ANTICIPATES TRANSACTION TO CLOSE DURING Q2 OF 2018 AND BE ACCRETIVE TO EARNINGS​ Source text for Eikon: Further company coverage:

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