On January 8, 2025, The Bank of Nova Scotia (TSX:BNS) announced an agreement to acquire an undisclosed minority interest in three of its Colombian affiliates—Scotiabank Colpatria S.A., Fiduciaria Scotiabank Colpatria S.A., and Scotia Securities (Colombia) S.A.—from Mercantil Colpatria S.A. The deal marks a strategic move to deepen Scotiabank’s operational presence in Colombia. While the exact percentage and transaction value were not disclosed, the acquisition will increase Scotiabank’s equity control in the financial services sector in Colombia. The transaction remains subject to regulatory approvals and is expected to close in the second half of 2025. Legal advisory services for Mercantil Colpatria S.A. were provided by Simpson Thacher & Bartlett LLP, with Todd Crider and Borja Marcos leading the advisory team. Although no specific monetary figures were released, any foreign currency involved would be converted to Canadian dollars at prevailing rates upon public disclosure.