USA: PNC Agrees to Acquire Vehicle Leasing Business from BTM Capital
The PNC Financial Services Group (NYSE: PNC) announced today that it has reached an agreement with BTM Capital Corporation to acquire the origination and servicing business of the firm's auto leasing division, U.B. Vehicle Leasing Inc. PNC is also entering into an agreement with BTM Capital Corporation to service approximately $1.3 billion of lease receivables, previously serviced by BTM Capital.
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