KEYCORP AND SCOTIABANK RECEIVE REGULATORY APPROVAL TO COMPLETE STRATEGIC MINORITY INVESTMENT
KeyCorp (NYSE: KEY) announced receiving all required regulatory approvals for Scotiabank's strategic minority investment. The Federal Reserve approved Scotiabank's remaining approximately 10% investment, expected to close in 2024. The initial 4.9% investment was completed on August 30, 2024. KeyCorp's CEO Chris Gorman expressed satisfaction with the approval, noting meaningful results from the first investment tranche and highlighting that the completed transaction will create additional growth capacity and enable further investments across the franchise.
KeyCorp (NYSE: KEY) ha annunciato di aver ricevuto tutte le approvazioni normative richieste per l'investimento strategico di minoranza di Scotiabank. La Federal Reserve ha approvato il restante investimento di circa il 10% di Scotiabank, che dovrebbe chiudere nel 2024. L'investimento iniziale del 4,9% è stato completato il 30 agosto 2024. Il CEO di KeyCorp, Chris Gorman, ha espresso soddisfazione per l'approvazione, notando risultati significativi dalla prima tranche di investimento e sottolineando che la transazione completata creerà ulteriore capacità di crescita e consentirà ulteriori investimenti nel franchising.
KeyCorp (NYSE: KEY) anunció que ha recibido todas las aprobaciones regulatorias necesarias para la inversión estratégica de minoría de Scotiabank. La Reserva Federal aprobó la inversión restante de aproximadamente el 10% de Scotiabank, que se espera cerrar en 2024. La inversión inicial del 4,9% se completó el 30 de agosto de 2024. El CEO de KeyCorp, Chris Gorman, expresó su satisfacción con la aprobación, señalando resultados significativos de la primera tranche de inversión y destacando que la transacción completada generará capacidad de crecimiento adicional y permitirá más inversiones a lo largo de la franquicia.
KeyCorp (NYSE: KEY)는 Scotiabank의 전략적 소수 투자에 필요한 모든 규제 승인을 받았다고 발표했습니다. 연방준비제도이사회는 Scotiabank의 남은 약 10% 투자를 승인했으며, 이는 2024년에 마감될 것으로 예상됩니다. 초기 4.9% 투자는 2024년 8월 30일에 완료되었습니다. KeyCorp의 CEO인 Chris Gorman은 승인에 대한 만족을 표명하며, 첫 번째 투자 분배에서 의미 있는 결과가 도출되었고, 완료된 거래가 추가 성장 능력을 창출하고 프랜차이즈 전반에 걸쳐 더 많은 투자 가능성을 열 것이라고 강조했습니다.
KeyCorp (NYSE: KEY) a annoncé avoir reçu toutes les approbations réglementaires nécessaires pour l'investissement stratégique de minorité de Scotiabank. La Réserve fédérale a approuvé l'investissement restant d'environ 10 % de Scotiabank, qui devrait être clôturé en 2024. L'investissement initial de 4,9 % a été réalisé le 30 août 2024. Le PDG de KeyCorp, Chris Gorman, a exprimé sa satisfaction quant à cette approbation, notant des résultats significatifs de la première tranche d'investissement et soulignant que la transaction finalisée créera une capacité de croissance supplémentaire et permettra d'autres investissements dans l'ensemble de la franchise.
KeyCorp (NYSE: KEY) gab bekannt, dass alle erforderlichen regulatorischen Genehmigungen für Scotiabanks strategische Minderheitsbeteiligung erteilt wurden. Die Federal Reserve genehmigte die verbleibende Investition von etwa 10% von Scotiabank, die voraussichtlich 2024 abgeschlossen wird. Die ursprüngliche Investition von 4,9% wurde am 30. August 2024 abgeschlossen. Der CEO von KeyCorp, Chris Gorman, äußerte sich zufrieden über die Genehmigung und wies auf bedeutende Ergebnisse aus der ersten Investitionstranche hin, und hob hervor, dass die abgeschlossene Transaktion zusätzliche Wachstumskapazitäten schaffen und weitere Investitionen in das Franchise ermöglichen wird.
- Federal Reserve approval received for remaining 10% strategic investment
- Initial 4.9% investment already completed on August 30, 2024
- Transaction expected to create additional growth capacity
- Company reports meaningful results from first investment tranche
- None.
Insights
The Board of Governors of the Federal Reserve System (the "Federal Reserve") approved the approximately
"We are pleased to receive final regulatory approval from the Federal Reserve to complete the strategic minority investment we announced in August," said KeyCorp Chairman and Chief Executive Officer, Chris Gorman. "We have already seen meaningful results from the first tranche of this investment as we continue to strengthen our strategic position. Completing this transaction will create additional capacity for growth, enabling further investments in targeted scale across our franchise."
About KeyCorp
KeyCorp's roots trace back nearly 200 years to
Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,200 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout
About Scotiabank
Scotiabank's vision is to be our clients' most trusted financial partner and deliver sustainable, profitable growth. Guided by our purpose: "for every future," we help our clients, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately
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SOURCE KeyCorp
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