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Bank Of Nova Scotia To Increase Stake In Scotiabank Chile

Bank of Nova Scotia said it has agreed to increase ownership in its Chilean operations or "Scotiabank Chile" through acquisition of an additional 7.0% stake from the Said family.

The transaction is valued at approximately C$500 million, and completion of the sale will impact Scotiabank's Common Equity Tier 1 capital ratio by approximately eight basis points.

Upon closing, Scotiabank's ownership in Scotiabank Chile will increase to 83%.

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