Truist Financial Corp. has agreed to sell Sterling Capital Management to Guardian Capital Group for $70 million in a deal guided by Davis Polk & Wardwell and Pryor Cashman. The transaction, announced Feb. 2, is expected to close in the second quarter of 2024. Charlotte, North Carolina-based Truist Financial was represented by a Davis Polk team including partners Eric McLaughlin, Evan Rosen and Margaret E. Tahyar. Guardian Capital, which is based in Toronto, was advised by Pryor Cashman. The team was led by partner Edward Normandin.
Banking & Financial Services
February 05, 2024, 11:25 AM