Norton Rose Canada acting for ING Groep NV: Agreement to sell ING Direct Canada to Scotiabank for $3.1 billion
August 29, 2012
Bloomberg News, Bloomberg Businessweek and The Am Law Daily report on ING reaching an agreement to sell ING Direct Canada to Scotiabank for CAD 3.1 billion (“S&C, Canadian Firms Take Top Billing on Scotiabank's $3.1 Billion ING Buy,” access required to view Am Law article).
Norton Rose Canada LLP, led by partners Peter Wiazowski and Andrew Fleming, represents ING Groep NV. The Norton Rose team also includes M&A partner Marc Duquette, partner Derek Chiasson on tax, partners Anne Gallop and Martin Rochette on executive compensation and benefits, partner Kevin Ackhurst on competition and partner Ruth Wahl on governance.
This transaction is the largest bank M&A deal in Canada since 1999.
ING’s press release can be viewed here.