Transaction|September 27, 2010
Scotiabank announces agreement to acquire Royal Bank of Scotland's Chilean banking operations
Torys acted as counsel to The Bank of Nova Scotia with a team that included Ian Arellano, Jared Fontaine, Michael Akkawi and Eric Boehm.
On September 27, 2010, Scotiabank announced that it has reached an agreement to acquire the Royal Bank of Scotland's (RBS) corporate and commercial banking operations in Chile. The terms of the transaction, which is subject to regulatory approval, were not disclosed. RBS's corporate and commercial banking operations in Chile have approximately US$900 million in total assets.
Scotiabank first entered the Chilean market in 1990. Today, Scotiabank is Chile's seventh largest bank having total assets of US$10.4 billion.
Scotiabank, headquartered in Toronto, is a financial institution active in both Canadian and international markets.
Further information is found on Canada Newswire's website.
Scotiabank first entered the Chilean market in 1990. Today, Scotiabank is Chile's seventh largest bank having total assets of US$10.4 billion.
Scotiabank, headquartered in Toronto, is a financial institution active in both Canadian and international markets.
Further information is found on Canada Newswire's website.