Popular Completes Regulatory Clearance Process for Wells Fargo Buy

Popular completed the regulatory clearance process for its previously announced agreement to acquire certain assets and liabilities related to Wells Fargo’s auto finance business in Puerto Rico.

The applicable waiting period relating to the review of the transaction by the board of governors of the Federal Reserve System expired on July 4, 2018. The parties have agreed to close the transaction on August 1, 2018, subject to the satisfaction or waiver of customary closing conditions.

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