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Wells Fargo To Sell Its Shareowner Services Business To Equinity In London

Wells Fargo & Co. (WFC) announced Wednesday that it has entered into an agreement to sell its Shareowner Services business to Equiniti Group plc in UK for $227 million. The deal is expected to close by the end of first quarter in 2018.

Wells Fargo Shareowner Services or WFSS is a division of Wells Fargo Bank that provides shareowner services in the U.S., including stock transfer agent, corporate action, and investment plan services to more than 1200 public and private companies across the U.S. More than 400 WFSS team members are expected to transition to Equiniti.

by RTTNews Staff Writer

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