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Friday, October 8, 1999
Scotia buys 10% in Japan bank
REUTERS
TORONTO, OCT 7: The Bank of Nova Scotia expects to invest "tens of millions" for a stake of about 10 per cent in a troubled Japanese bank. Scotiabank chief executive Peter Godsoe confirmed on Wednesday that the bank, Canada's third-largest bank by assets, is joining US investor group Ripplewood Holdings and a consortium of international financial institutions to buy the troubled Long-Term Credit Bank of Japan (LTCB).Godsoe gave no specifics on the deal, but said Scotiabank would invest "tens of millions" in the bank for a stake of between 5 and 10 per cent. Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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