Ally Financial Inc's international operations have drawn interest from more than 15 bidders, including banks and General Motors Co, according to a source familiar with the matter. The auto lender, which is 74-percent owned by the U.S. Treasury after a series of bailouts, received a second round of offers on Friday as part of a sale process announced in May.Ally, the former lending arm of GM, is selling its operations in Europe, Canada, Latin America and Mexico in an effort to speed up repayment to taxpayers.General Motors, which is also partly owned by the U.S. Treasury, is interested in Ally's European and Latin American auto loan operations, but not its Canadian unit, the source said. GM disclosed in August that it was bidding for Ally's international operations.CNBC reported on Tuesday that two Canadian banks - Toronto Dominion Bank and Bank of Nova Scotia, widely known as Scotiabank - were also among the bidders.
The Bank of Nova Scotia (the Bank) is a diversified financial institution. Shares of BNS fell by 0.2% or $-0.11/share to $55.22. In the past year, the shares have traded as low as $45.79 and as high as $57.57. On average, 466916 shares of BNS exchange hands on a given day and today's volume is recorded at 546377.
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