By Elias Schisgall
BMO Financial Group agreed to acquire Euroz Hartleys Group's Australia-based capital-markets business.
The Montreal bank said Euroz Hartleys Group's private-wealth business would enter into a strategic alliance agreement with BMO as an independent entity to maintain its relationship with the capital-markets business.
Financial terms of the deal weren't disclosed. The acquisition is expected to close in the fourth quarter, subject to approval by Euroz Hartleys shareholders.
BMO said that the capital-markets business would complement its metals and mining franchise, noting that metals and mining capital formation activity in Australia rivals Canada's own.
"By combining our global distribution capabilities with deep local expertise in Australia, we are building a more connected platform that will enable clients to access capital and opportunities across market," Carrie Cook, who leads investment and corporate banking for BMO Capital Markets, said.
Write to Elias Schisgall at elias.schisgall@wsj.com