National Bank to raise more equity for CWB deal after shares recover

The Montreal-based lender struck a deal last month to buy CWB in an all-stock transaction valued at C$5bil at the time. — Bloomberg

MONTREAL: National Bank of Canada is raising an additional C$20mil (US$15mil) in connection with its planned acquisition of Canadian Western Bank (CWB), according to people familiar with the matter.

The Montreal-based lender struck a deal last month to buy CWB in an all-stock transaction valued at C$5bil at the time.