Equiniti Group, a UK-based provider of share registration and associated investor services, has completed the acquisition of Wells Fargo’s shareowner services division.
The deal, which is valued at $227m, was first announced in July 2017.
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The acquired entity offers shareowner services such as stock transfer agent, corporate action as well as investment plan services in the US.
Over 400 employees of Wells Fargo shareowner services unit will join Equiniti as part of the deal.
Wells Fargo Commercial Capital head Ed Blakey said: “The completion of this transaction is the latest step in our ongoing efforts to sharpen our focus on the core areas of our business. I am grateful that the extremely talented group of Shareowner Services team members will join an organisation that is primed for growth in the U.S.”
