(Bloomberg) -- RCS Capital agreed to pay American Realty Capital Properties $60 million to settle a lawsuit over the canceled sale of a unit, ARCP said in a statement today.

ARCP filed the suit in the Delaware Court of Chancery after RCS didn’t complete an agreed purchase of shares in Cole Capital Partners and Cole Capital Advisors. ARCP and New York-based RCS will now unwind and terminate all arrangements between the two companies and their subsidiaries, according to the statement.

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