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Stocks in play: The Bank of Nova Scotia

Baystreet.ca

Announced today the closing of the previously announced transaction to reduce its 49% interest in Thanachart Bank Public Company Limited in Thailand. As part of agreements entered into with ING Groep N.V., TBank and TMB Bank Public Company Limited in August 2019, Scotiabank is selling its 49% interest in TBank in exchange for cash and an approximately 6% ownership interest in the form of common shares in TMB. Under the agreements, TBank will become a wholly-owned subsidiary of TMB and the two banks will subsequently be merged. The Bank of Nova Scotia shares T.BNS are trading down $0.83 at $73.85.

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