Liquidator Statement Regarding Sale and Solicitation Process for Silicon Valley Bank Canada Branch

TORONTO, May 4, 2023 /CNW/ - PricewaterhouseCoopers Inc. ("PwC"), in its capacity as the court-appointed liquidator (the "Liquidator") of the business in Canada of Silicon Valley Bank ("SVB Canada") announced the launch of a sale and solicitation process ("SSP") for the purpose of soliciting proposals to purchase some or all of SVB Canada's assets, business and operations as a going concern or otherwise.

SVB Canada was an authorized foreign bank pursuant to the Bank Act. The operations of SVB Canada were focused primarily on lending to corporate clients.

To obtain detailed information on SVB Canada and its business, assets and operations, interested parties will be required to sign a confidentiality agreement.  The deadline for the submission of non-binding expressions of interest is 5:00 p.m. EST, May 29, 2023.

For enquiries or further information regarding the SSP: 
Please refer to the Liquidator's website at www.pwc.com/ca/svb or contact the Liquidator directly at [email protected].

About PwC Canada
At PwC, our purpose is to build trust in society and solve important problems. More than 9,000 partners and staff in offices across the country are committed to delivering quality in assurance, tax, consulting and deals services. PwC Canada is a member of the PwC network of firms with nearly 328,000 people in 152 countries. Find out more by visiting us at: www.pwc.com/ca.

© 2023 PricewaterhouseCoopers Inc. All rights reserved.

PwC refers to the Canadian member firm, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details.

SOURCE PwC Management Services LP

Chiara Battaglia, 514 833 3337, [email protected]