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M&A Deal Summary

Scotia Bank Acquires Nuevo Banco Comercial S.A

On December 6, 2010, Scotia Bank acquired financial services company Nuevo Banco Comercial S.A from Advent International

Acquisition Highlights
  • This is Scotia Bank’s 2nd transaction in the Financial Services sector.
  • This is Scotia Bank’s 1st transaction in Uruguay.

M&A Deal Summary
Date 2010-12-06
Target Nuevo Banco Comercial S.A
Sector Financial Services
Buyer(s) Scotia Bank
Sellers(s) Advent International
Deal Type Add-on Acquisition

Target

Nuevo Banco Comercial S.A

Montevideo, Uruguay
Nuevo Banco Comercial (NBC) is Uruguay’s largest commercial bank.

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Buyer(S) 1

Buyer

Scotia Bank

Toronto, Ontario, Canada
Category Company
Founded 1832
Sector Financial Services
Employees87,317
Revenue 33.6B CAD (2024)
DESCRIPTION
Scotiabank branch in London, Ontario.
Scotiabank branch in London, Ontario.

Scotia Bank offers personal, commercial, corporate and investment banking products and services through global team of more than 75,000 Scotiabankers. Scotia Bank was incorporated in 1832 and is based in Toronto, Ontario.

DEAL STATS #
Overall 3 of 7
Sector: Financial Services M&A 2 of 6
Type: Add-on Acquisition M&A Deals 1 of 3
Country: Uruguay M&A 1 of 2
Year: 2010 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-27 The Royal Bank - Chilean Business

Chile

The Royal Bank of Scotland N.V - Chilean Business comprises corporate and commercial banking operations.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-02-04 Pronto

Uruguay

Pronto a consumer credit companies.

Buy -

Seller(S) 1

SELLER

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1984
PE ASSETS 91.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Advent is a global private equity firm that targets investments in North America, Europe, Asia, and Latin America. Advent's emerging market efforts are concentrated in Central Europe and Latin America. Advent seeks transactions valued between $50 million and $5 billion and can commit up to $2 billion of equity capital per investment. Broad areas of interest include business & financial services, retail & consumer, technology, media, & telecoms, healthcare & life sciences, and industrial. Prospective transaction types include buyouts, growth capital financings, take privates, and recapitalizations. Advent was formed in 1984 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 113 of 233
Sector: Financial Services M&A 9 of 25
Type: Add-on Acquisition M&A Deals 46 of 87
Country: Uruguay M&A 1 of 3
Year: 2010 M&A 8 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-11-17 Tinsa

Madrid, Spain

Tinsa is a multinational property valuation and consultancy company. Tinsa client portfolio includes the vast majority of financial institutions in the countries in which it operates, companies operating in multiple sectors, public administrations and private individuals. Tinsa was founded in 1985 and is based in Madrid, Spain.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-23 Takko Fashion

Telgte, Germany

Takko Fashion is a retailer of fashionable 'value for money' clothing, targeting young families and women aged between 25 and 40. Takko Fashion was formed in 1982 and runs over 900 stores in Germany, Austria, The Netherlands, Hungary, and the Czech Republic.

Sell $1.7B
Mergr

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