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Bank of America, JP Morgan: Advisory on Scotiabank’s 14.9% Stake Acquisition in KeyCorp for $2.8bn

Scotiabank is set to acquire a 14.9% stake in KeyCorp for approximately $2.8 billion, signaling a strategic expansion into the U.S. financial market.

A sign for The Bank of Nova Scotia, operating as Scotiabank, in Toronto, Canada. PHOTO: File Photo
A sign for The Bank of Nova Scotia, operating as Scotiabank, in Toronto, Canada. PHOTO: File Photo

Priced at $17.17 per share, this transaction represents an 11% premium over the volume-weighted average price of the last 20 trading days.

The investment will be executed

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