Bank of Nova Scotia said on Wednesday it will explore options to divest itself of some or all of its 37 percent stake in asset manager CI Financial "over time." Canada's No. 3 bank, which acquired the CI stake from insurer Sun Life Financial Inc in 2008, said in a statement it would pursue partial or full monetization of the investment "in one, or a series of transactions."Scotiabank, which estimated the market value of the CI stake at C$3.8 billion ($3.48 billion), said there were no assurances that any transaction will be completed.($1 = 1.0906 Canadian Dollars)
The Bank of Nova Scotia (the Bank) is a diversified financial institution. Shares of BNS traded higher by 0.2% or $0.12/share to $61.50. In the past year, the shares have traded as low as $52.05 and as high as $63.50. On average, 313753 shares of BNS exchange hands on a given day and today's volume is recorded at 201572.
CI Financial Corp. (CI) is a diversified wealth management and investment fund company. Shares of CIX fell by 0.47% or $-0.17/share to $36.13. In the past year, the shares have traded as low as $29.29 and as high as $37.00. On average, 213134 shares of CIX.TO exchange hands on a given day and today's volume is recorded at 108089.
Sun Life Financial Inc. (SLF Inc.) is an international financial services organization providing a diverse range of protection and wealth accumulation products and services to individuals and corporate customers. Shares of SLF fell by 0.55% or $-0.19/share to $34.52. In the past year, the shares have traded as low as $28.10 and as high as $36.33. On average, 215355 shares of SLF exchange hands on a given day and today's volume is recorded at 148419.
Sun Life Financial Inc. (SLF Inc.) is an international financial services organization providing a diverse range of protection and wealth accumulation products and services to individuals and corporate customers. Shares of SLF fell by 0.77% or $-0.29/share to $37.57. In the past year, the shares have traded as low as $29.17 and as high as $40.15. On average, 1114250 shares of SLF.TO exchange hands on a given day and today's volume is recorded at 867400.
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