TD Bank Group to Sell Its Final 10.1% Stake in Charles Schwab

The TD Bank Group intends to sell its 10.1 percent stake in Charles Schwab Corp, comprising 184.7 million shares valued at approximately US$15.4 billion. Charles Schwab has agreed to repurchase US$1.5 billion of the shares from TD. In addition, TD plans to repurchase 100 million of its common shares, equivalent to around 5.7 percent of its total shares.