The Bank of Nova Scotia

The Bank of Nova Scotia in the sale of its Caribbean banking operations to Republic Financial Holdings Limited

Client

The Bank of Nova Scotia

Value

-

Service

Mergers and Acquisitions

Date Closed

Lead Office

Toronto

On November 27, 2018, The Bank of Nova Scotia (Scotiabank) announced the sale of its banking operations in 9 markets in the Caribbean (Anguilla, Antigua, Dominica, Grenada, Guyana, St. Kitts & Nevis, St. Lucia, St. Maarten, St. Vincent & the Grenadines) to Republic Financial Holdings Limited. These exits are part of Scotiabank’s broader strategy to increase their scale in core geographies and businesses.

Republic Financial Holdings is a leading financial group based in Trinidad & Tobago with operations across the Caribbean and Ghana.

Osler, Hoskin & Harcourt LLP is acting for Scotiabank with a team led by Doug Marshall that included Brian Gray, Sahil Chopra, Victoria Graham (Corporate), Shuli Rodal (Competition/Antitrust), Damian Rigolo (Employment & Labour), Jana Steele, Jonathan Marin (Pensions & Benefits), Patrick Marley, Emily Gilmour (Tax) and Ted Liu (Technology).