Bank of Nova Scotia, Canada’s third-largest lender by assets, is gauging interest in its stake in Thanachart Bank Pcl eight years after first investing in the Thai lender, people with knowledge of the matter said.
The Toronto-based lender’s review of its 49 percent holding could result in a partial or complete exit of the investment, the people said, asking not to be identified as the process is private. The Thanachart Bank stake has a carrying value of C$2.4 billion ($1.75 billion) on Scotiabank’s balance sheet, according to its latest annual report.
Bank of Nova Scotia, Canada’s third-largest lender by assets, is gauging interest in its stake in Thanachart Bank Pcl eight years after first investing in the Thai lender, people with knowledge of the matter said.The Toronto-based lender’s review of its 49 percent holding could result in a partial or complete exit of the investment, the people said, asking not to be identified as the process is private. The Thanachart Bank stake has a carrying value of C$2.4 billion ($1.75 billion) on Scotiabank’s balance sheet, according to its latest annual report.
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