Bank of Nova Scotia Gets Fed Approval for Acquisition of 15% Stake in KeyCorp

MT Newswires Live12-13

Bank of Nova Scotia (BNS) has received the US Federal Reserve's approval to increase its interest in KeyCorp (KEY) to up to 14.99% from 4.93%, the Fed said Thursday.

The Canadian bank announced its bid to acquire up to about 15% stake in KeyCorp in August for a total cash consideration of about $2.8 billion.

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