Scotiabank (BNS) to Acquire 14.9% equity interest in KeyCorp (KEY)
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Scotiabank announces agreement to acquire 14.9% equity interest in KeyCorp
August 12, 2024 6:00 AM EDTTORONTO, Aug. 12, 2024 /PRNewswire/ - Scotiabank announced today that it has entered into an agreement to acquire an approximate 14.9% pro-forma ownership stake in KeyCorp through an issuance of common shares at a price of $17.17 per share, representing an 11% premium to the volume weighted average price for the last 20 trading days. The total cash consideration is approximately US$2.8 billion (the "Investment").
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