Transaction|April 1, 2011
TD Bank completes acquisition of Chrysler Financial
Torys acted as Canadian counsel to TD Bank with a team that included Michael Feldman, Jim Hong, Zeynab Ziaie Moayyed and Eli Monas (M&A), Blair Keefe and Sunny Sodhi (regulatory), Jay Holsten (competition law), Christina Medland (employment and pension), Patrick Flaherty (litigation), Andrew Wong and Saira Bhojani (tax) and Laila Paszti (IP).
On April 1, 2011, the Toronto-Dominion Bank (TSX and NYSE: TD) announced the closing of its acquisition of Chrysler Financial from Cerberus Capital Management LP for C$6.3 billion, creating a top 5 bank-owned auto lender in North America.
TD's existing retail auto lending business will be combined with Chrysler Financial, and the company expects to rebrand Chrysler Financial under the TD Auto Finance brand later this spring.
The business will be headquartered in Toronto and continue to operate on a North American basis overseen by Chrysler Financial's CEO.
Further information is found on Canada Newswire.
TD's existing retail auto lending business will be combined with Chrysler Financial, and the company expects to rebrand Chrysler Financial under the TD Auto Finance brand later this spring.
The business will be headquartered in Toronto and continue to operate on a North American basis overseen by Chrysler Financial's CEO.
Further information is found on Canada Newswire.