NEW YORK CITY (dpa-AFX) - BNY Mellon, the corporate brand of the Bank of New York Mellon Corp. (BK), Tuesday said it has completed the previously announced sale of its shareowner services business to Computershare (CPU.AX), a global provider of transfer agency, share registration and employee equity plans, among others.
The transaction resulted in a modest after-tax loss due to the impact of non-deductible goodwill associated with the business, which will be reflected in BNY Mellon's results for the fourth quarter of 2011.
The transaction enhances BNY Mellon's capital ratios, generating over $200 million in additional capital and adding around 20 basis points to BNY Mellon's Basel III Tier 1 common equity ratio.
The deal adds about 1,060 issuer clients to Computershare's customer base. The combined organization will cover more markets with greater breadth and depth.
Stuart Crosby, CEO and President of Computershare Limited, said, 'This is strategically the most significant acquisition Computershare has made, and we have made many. It goes directly toward our goal of remaining the global leader in shareholder servicing.'
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