ROCKY MOUNT, N.C., May 4 /PRNewswire/ -- Centura Banks Inc. (NYSE: CBC)
("Centura") is pleased to announce that Centura shareholders approved on
May 3, 2001 the Agreement and Plan of Merger (the "Agreement") dated as of
January 26, 2001, between Centura and Royal Bank of Canada ("Royal Bank")
pursuant to which Royal Bank will acquire Centura. Of Centura's shares
outstanding and entitled to vote, 69 percent voted, with over 65 percent
voting in favor of the transaction.
Under the terms of the Agreement, each share of Centura outstanding will
be converted into the right to receive 1.684 common shares of Royal Bank upon
closing. The closing of the merger is subject to receipt of regulatory
approvals in Canada and the U.S. The merger is expected to close during Royal
Bank's third fiscal quarter ending July 31, 2001.
About Centura
Centura Banks Inc., a $12 billion-asset financial services company based
in North Carolina, provides a complete line of banking, investment, insurance,
leasing and asset management services to individuals and businesses in North
Carolina, South Carolina and Virginia. Centura's broad range of financial
solutions is provided through more than 240 full-service financial offices and
Centura Highway, the bank's multifaceted customer access system that includes
telephone banking, an extensive ATM network, PC banking, online bill payment
and the bank's suite of Internet products and services. Additional
information may be found on Centura's website at http://www.centura.com.
About Royal Bank of Canada
Royal Bank of Canada (RY) is a diversified financial services company. It
provides personal and commercial banking, wealth management services,
insurance, corporate and investment banking, online banking and transaction
processing on a global basis. The company employs 50,000 people who serve 10
million personal, business and public sector customers in North America and in
some 30 countries around the world. For more information, please visit
http://www.royalbank.com.
SOURCE Centura Banks, Inc.
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Related links:
http://www.centura.com
Company News On-Call:
http://www.prnewswire.com/comp/870954.html or fax,
800-758-5804, ext. 870954
CONTACT:
Steven J. Goldstein, Chief Financial Officer,
252-454-8356, or e-mail, sgoldstein@centura.com, or Terry Earley,
Investor Relations, 252-454-4453, or e-mail, tearley@centura.com,
both of Centura Banks, Inc.
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