Scotiabank Said to Weigh Bid for Citigroup Central America
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Bank of Nova Scotia, Canada’s third-largest lender by assets, is exploring a bid for Citigroup Inc.’s consumer-banking units in Costa Rica and Panama, people with knowledge of the matter said.
The businesses could be valued at about $1.1 billion in a sale, one of the people said, asking not to be identified discussing private information. Though Scotiabank is conducting due diligence on the assets, a deal may not be reached, the people said.