BBVA Confirms Talks with Bank of Nova Scotia to Sell BBVA Chile

By Pietro Lombardi Features Dow Jones Newswires

Spain's Banco Bilbao Vizcaya Argentaria SA (BBVA) confirmed on Thursday that it is negotiating with Canada's Bank of Nova Scotia (BNS.T) to sell its BBVA Chile (BBVACL.SN) unit.

Continue Reading Below

Responding to news reported in Chilean media, BBVA confirmed that the Canadian bank, also called Scotiabank, had made an approach expressing interest in acquiring 100% of the share capital of BBVA Chile.

"Scotiabank has requested to review nonpublic documentation and information from BBVA Chile and interview managers of the company in order to analyze the transaction," BBVA said in a statement.

The board of BBVA Chile agreed to the request. BBVA added that it was unable to say whether the negotiations would lead to a deal.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

(END) Dow Jones Newswires

Continue Reading Below

August 31, 2017 04:42 ET (08:42 GMT)