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| Formerly | General Trust Company of Canada (1894–1899) |
|---|---|
| Industry | Financial services |
| Founded | 23 July 1894 |
| Fate | Acquired by Toronto-Dominion Bank in 2000 |
| Headquarters | |
The Canada Trust Company was a Canadian trust company founded in 1894 in Calgary, Alberta, as the General Trust Corporation of Canada. In 1899, it was acquired by the Huron and Erie Savings and Loan Society, which moved the company to London, Ontario, and changed its name to the Canada Trust Company.
In September 1985, Canada Trust was acquired by the conglomerate Genstar Corp., and at the beginning of 1986 Genstar merged Canada Trust with Canada Permanent. The new giant company, which became the country's sixth largest financial institution, was acquired in March 1986 by the tobacco conglomerate Imasco. In June 1999, Imasco's controlling shareholder, British American Tobacco, announced its plan to increase its share to a majority. As part of the deal, British American would sell Canada Trust to the Toronto-Dominion Bank. The sale, worth CAD 7.8 billion, closed on 1 February 2000.