The Bank of Nova Scotia (TSX:BNS) signed an agreement to acquire additional 7% stake in Scotiabank Chile, S.A. (SNSE:SCOTIABKCL) from Said family for CAD 480 million on May 3, 2021. Upon closing, The Bank of Nova Scotia's ownership in Scotiabank Chile will increase to 83%. The transaction is subject to customary closing conditions and regulatory approvals. Completion of the sale will impact The Bank of Nova Scotia's common equity tier 1 capital ratio by approximately eight basis points. The Bank of Nova Scotia (TSX:BNS) acted as financial advisor to itself in the transaction. A.S. Bhasin, Na Fan, Milosz Zemanek and Andrew Silverman of Torys LLP acted as legal advisors for The Bank of Nova Scotia (TSX:BNS).

The Bank of Nova Scotia (TSX:BNS) completed the acquisition of additional 7% minority stake in Scotiabank Chile, S.A. (SNSE:SCOTIABKCL) from Said family on May 12, 2021.