Scotiabank acquires BSA and majority of BWS forming Peru's third largest bank

Date Closed

March 09, 2006

Lead Office

Toronto

Value

600.00 Million CAD

On March 9, 2006, The Bank of Nova Scotia (Scotiabank) completed its acquisition of approximately 80% of Peruvian bank Banco Wiese Sudameris S.A.A. (BWS) from Italy’s Banca Intesa S.p.A. (Intesa), which retained an approximate 20% interest in BWS. Over the next several months, these institutions will be combined to form the country's third largest bank.

McCarthy Tétrault LLP advised Scotiabank with a team led by Ian Arellano.