KeyCorp, Scotiabank
Scotiabank closes US$2.8-billion acquisition of KeyCorp stake
TORONTO — Bank of Nova Scotia says it has closed its two-part deal to buy a 14.9 per cent stake in U.S. bank KeyCorp for about US$2.8 billion. It says it closed the second part of the deal, buying a 10 per cent share, following approval from the board of governor s of the U.S. Federal Reserve System.
In August, Scotiabank has closed the initial investment of approximately 4.9 percentage. "Our investment in KeyCorp represents a cost-effective, low-risk approach to deploying capital into the U.S.
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