BMO will acquire the Australian capital markets business of Euroz Hartleys Group.

This Montreal-based bank stated that the private wealth business of Euroz Hartleys Group will enter into a strategic alliance agreement with BMO as an independent entity, in order to maintain its relationship with the capital markets business. The financial terms of the transaction were not disclosed. The acquisition is expected to be completed in the fourth quarter, subject to approval from Euroz Hartleys shareholders. BMO said the capital markets business will complement its metals and mining operations, and noted that metals and mining capital formation activities in Australia are comparable to those in Canada.