July 10, 2018 / 1:48 PM / a year ago

TD Bank to buy Greystone Managed Investments for C$792 million

FILE PHOTO: A Toronto-Dominion Bank (TD) sign is seen outside of a branch in Ottawa, Ontario, Canada on May 26, 2016. REUTERS/Chris Wattie/File Photo

(Reuters) - Toronto-Dominion Bank (TD.TO), Canada’s second-biggest lender by market value, said on Tuesday it would buy Greystone Capital Management Inc for C$792 million ($603.20 million).

Shareholders of Greystone will receive 30 percent of the net purchase price in TD shares with the remaining to be paid in cash, the company said.

Greystone is a privately owned, Canadian institutional investment manager.

Reporting by Karan Nagarkatti in Bengaluru; Editing by Bernard Orr

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