Deal Snapshot
SCOTIABANK TO ACQUIRE CONTROLLING STAKE IN PERUVIA´S BANCO CENCOSUD
Tuesday 15 May 2018

Scotiabank Peru, a subsidiary of Canada-based Scotiabank (NYSE: BNS), has reached an agreement with Cencosud Peru to acquire a 51% controlling interest in Banco Cencosud for approximately CDN 130m (USD 102m), the company said.
Under the terms of the agreement, the two companies will also enter into a 15-year partnership to manage the credit card business and provide additional products and services to customers. Scotiabank and Cencosud already have similar partnership arrangements in Chile and Colombia.


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Details
Date Published: 15/05/2018
Target: Banco Cencosud/51% stake
Country: Peru
Deal Size: 102m (USD)
Sector: Banking/Financial Services
Type: Corporate acquisition
Financing: Cash
Status: Agreed
Vendor: Cencosud Peru
Buyer: Scotiabank
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