Centerbrige Partners and Stephen Smith acquired Walmart Canada Bank.

Investment firm Centerbrige Partners and Stephen Smith, one of Canada’s leading financial services entrepreneurs, acquired Walmart Canada Bank, a financial services arm of Walmart Canada. Financial terms were not disclosed. "The closing of this transaction represents a new and exciting phase for the bank, our talented associates, and our customers," said Trudy Fahie, Chief Executive Officer of Walmart Canada Bank. "We look forward to working together with Stephen and the Centerbridge team, who bring deep financial services expertise, as we execute our long-term growth strategy for the bank while continuing to stay true to our mission of providing value-driven financial products that are clear and simple."