BMO to acquire Euroz Hartleys Group's Australian capital markets business.

BMO Financial Group has agreed to acquire the Australian capital markets business of Euroz Hartleys Group. The Montreal-based bank stated that Euroz Hartleys Group's private wealth business will remain as a separate entity and enter into a strategic alliance agreement with BMO 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 stated that the capital markets business will complement its metals and mining business, noting that Australia's metals and mining capital formation activities are comparable to those in Canada.