April 9, 2019 / 12:09 PM / 17 days ago

Principal Financial to buy Wells Fargo's retirement business for $1.2 bln

April 9 (Reuters) - Financial services provider Principal Financial Group said on Tuesday it would acquire Wells Fargo & Co’s institutional retirement and trust business for $1.2 billion.

The deal, which will be financed with cash and debt, will add to its net income and adjusted EPS in 2020, Principal Financial said. reut.rs/2uRbzQ2

Reporting By Aparajita Saxena in Bengaluru; Editing by Anil D'Silva

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