Bank of Nova Scotia is paying $1.3-billion to buy nearly full ownership of its Chilean division, acquiring a family-held 16.8-per-cent stake.
Since then, Scotiabank has gradually increased its ownership stake, including the purchase of 7 per cent of shares for $500-million from the Said family last May. “We believe this transaction makes sense for [Scotiabank] and is a good use of capital for the bank,” said Darko Mihelic, an analyst at RBC Dominion Securities, in a note to clients.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.