Scotiabank Agrees to Acquire 14.9% Equity Stake in KeyCorp
August 12, 2024
Scotiabank entered into an agreement to acquire an approximate 14.9% pro-forma ownership stake in KeyCorp through the issuance of common shares. The investment will occur in two stages—an initial 4.9% stake expected to close in fiscal 2024 Q4, followed by an additional ~10% expected to close in fiscal 2025, subject to regulatory approvals.
- Buyers
- Scotiabank
- Targets
- KeyCorp
- Industry
- Financial Services
- Location
- Ohio, United States
- Transaction Type
- Growth capital
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