CIT Completes Sale of Canadian Equipment Finance and Corporate Finance Businesses to Laurentian Bank of Canada

NEW YORK--(BUSINESS WIRE)--CIT Group Inc. (NYSE:CIT), cit.com, a leading provider of commercial lending and leasing services, today announced that it has completed the sale of its Canadian equipment finance and corporate finance businesses (CIT Canada), with assets of approximately US $700 million, to Laurentian Bank of Canada. As part of the sale, CIT will transfer approximately 135 employees of CIT Canada to the Laurentian Bank team.

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