Deals
Scotiabank in Talks With Cathay Financial to Sell Malaysia Unit
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Bank of Nova Scotia is in talks with Cathay Financial Holdings Co. to sell its Malaysian operations as the Canadian lender looks to exit a country it’s been in for 44 years.
The Taipei-based company’s Cathay United Bank and Cathay Life Insurance units have exclusive rights until April 30 to bid for Bank of Nova Scotia Berhad, according to a March 8 regulatory filing with the Taiwan Stock Exchange. The proposed takeover is subject to further negotiations and regulatory approvals from Taiwan and Malaysia.