General Announcement::Agreement with minority shareholders

Issuer & Securities

Issuer/ Manager
SCOTIABANK CHILE
Securities
SCOTIABANK USD125M2.16%N261110 - XS2401677948 - FZVB
SCOTIABANK AUD30M2.75%N261216 - XS2423023204 - PNWB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
01-Mar-2022 08:06:16
Status
New
Announcement Sub Title
Agreement with minority shareholders
Announcement Reference
SG220301OTHRDYNJ
Submitted By (Co./ Ind. Name)
Miguel Royo
Designation
Director International Funding & Investor Relations
Effective Date and Time of the event
28/02/2022 17:00:00
Description (Please provide a detailed description of the event in the box below)
We hereby inform that as of today, The Bank of Nova Scotia ( BNS ) reached an agreement
with Inversiones Caburga Limitada, Inversiones del Pac fico, Inversiones Santa Virginia
Limitada, Inversiones Corinto SpA, Inversiones Valparaiso SpA and Inversiones SH Seis
Limitada (hereinafter the Said Group ) to purchase its 16.76% stake in Scotiabank Chile
through an exchange form common shares issued by BNS. Following this transaction BNS
will increase its ownership stake to 99.8% from 83% (current ownership stake).
This transaction has been valued in approximately CAD 1,300 million. At closing, BNS wil
pay CAD 650 million in cash and will deliver 7 million shares to be issued by BNS.
Following the closing of this transactions the Said Group will become a relevant shareholder
of BNS and will maintain their current positions within the organization and the presidency
of Scotiabank Chile s Board of Directors.
The closure of this transaction is subject to customary precedent conditions including the
approval of the Chilean Financial Market Commission and The Canadian Regulator.
Additionally, the Said Group will also sell their stake in Scotiabank Chile s subsidiaries in the
Country and will receive the dividend corresponding to the fiscal year 2021. Following the
closing of this transactions BNS will transfer the acquired shares to Nova Scotia Inversiones
Limitada, entity which currently holds its existing partipation in Scotiabank Chile.

Attachments

Material Information on Scotiabank Chile.pdf
Total size =79K