05:46 PM EDT, 05/11/2026 (MT Newswires) -- Bank of Montreal ( NRGD ) said late Monday it has signed a definitive agreement to sell its Transportation Finance and Vendor Finance businesses to Stonepeak, including related loan portfolios in the US and Canada.

Under the terms of the agreement, Stonepeak will acquire the assets of BMO's Transportation Finance and Vendor Finance businesses for cash consideration and an earnout contingent upon the business achieving specified future performance targets, the company said.

The bank will use a portion of the consideration to invest an approximate 19.9% equity interest in the new entity, the company added.

The transaction is expected to close in Q4, subject to regulatory approvals and customary closing conditions.