KeyCorp (KEY) announced that The Bank of Nova Scotia (BNS) has completed its purchase of KeyCorp’s common stock with an investment of approximately $2B, as expected. With this investment, Scotiabank now owns approximately 14.9% of KeyCorp’s common stock. The parties received Federal Reserve approval for the transaction on December 12, 2024. This purchase completes Scotiabank’s strategic minority investment in KeyCorp pursuant to the agreement announced on August 12, 2024.
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Read More on KEY:
- KeyCorp lowers prime lending rate to 7.50% from 7.75%
- KeyCorp, Scotiabank receive regulatory approval to complete investment
- KeyCorp, Bank of Nova Scotia receive regulatory approval to complete investment
- KeyCorp ‘feels very good’ about credit
- KeyCorp says economy picking up, sees opportunities to deploy capital
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