ECN Capital’s $2 Billion Sale of its Service Finance Business to Truist Bank
August 11, 2021
On August 10, 2021, ECN Capital Corp. (“ECN Capital”), one of North America’s leading commercial finance companies, announced that it has entered into a definitive agreement with Truist Bank to sell its Service Finance business for cash proceeds of $2 billion. Service Finance is a nationally licensed sales finance company and an approved FHA Title I lender. Cravath is representing ECN Capital in connection with the transaction.
The Cravath team is led by partner Erik R. Tavzel and includes associates Adam M. Sanchez, Christopher M. Tierney, Connor F. O’Neill and Nicholle Lamartina on corporate matters; partner Eric W. Hilfers and associate Laura S. Lee on executive compensation and benefits matters; partner J. Leonard Teti II and associate Kyle R. Jorstad on tax matters; partner Matthew Morreale on environmental matters; senior attorney Joyce Law on real estate matters; and associate Carys J. Webb on intellectual property matters.
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J.D., 1998, University of Chicago Law Schoolwith Honors
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A.B., 1995, Princeton University
- New York
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J.D., 2005, University of Virginia School of LawOrder of the Coif
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A.B., 1999, Princeton Universitywith Honors
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J.D., 1997, Columbia Law SchoolHarlan Fiske Stone Scholar
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M.S., 1994, University of Pennsylvania
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B.A., 1990, University of Pennsylvania
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B.A.S., 1990, University of Pennsylvania
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J.D., 1997, Boston University School of Law
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B.Comm., 1994, University of AlbertaDistinction
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August 11, 2021
ECN Capital’s $2 Billion Sale of its Service Finance Business to Truist Bank
On August 10, 2021, ECN Capital Corp. (“ECN Capital”), one of North America’s leading commercial finance companies, announced that it has entered into a definitive agreement with Truist Bank to sell its Service Finance business for cash proceeds of $2 billion. Service Finance is a nationally licensed sales finance company and an approved FHA Title I lender. Cravath is representing ECN Capital in connection with the transaction.
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