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Principal To Buy Wells Fargo Retirement Unit For $1.2 billion

TedTed
in The Bullpen
FYI: Principal Financial Group Inc. agreed to buy Wells Fargo & Co.'s retirement plan services unit for $1.2 billion as the bank streamlines operations in the wake of scandals.

The business, which has $827 billion in assets under administration, includes operations in the U.S., the Philippines and India, Principal said Tuesday in a statement.
Regards,
Ted
https://www.reuters.com/article/us-wells-fargo-divestiture/principal-financial-to-buy-wells-fargos-retirement-unit-for-12-billion-idUSKCN1RL1FH
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