Laurentian Bank has struck a deal with Fairstone and National Bank after having launched an unsuccessful bid to attract a buyer in 2024.

Laurentian Bank of Canada LB-T has struck a deal to be taken over by Fairstone Bank of Canada in an all-cash deal valued at $1.9-billion as part of the lender’s strategy to focus on its commercial business.

Montreal-based Fairstone will combine its commercial lending unit with Laurentian’s in a bid to expand its market share.

Laurentian said it plans to concentrate on commercial real estate lending, inventory and equipment financing, intermediary services and capital markets activities.

The bank launched a plan to overhaul and streamline its business in 2024 after its sale process failed to attract a buyer.

“Joining forces with Fairstone Bank wil

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