Scotiabank To Sell Scotia Managed Companies Administration To Marquest

(RTTNews) - The Bank of Nova Scotia and Marquest Asset Management Inc. announced that Marquest and Scotia Capital Inc. Marquest has agreed to acquire all of the outstanding shares of Scotia Managed Companies Administration Inc. or "SMCA", from Scotia Capital. This transaction is not material to Scotiabank.

Following the closing of the transaction, SMCA will continue as a separate entity. The transaction is not expected to result in any changes in the day-to-day affairs of the Funds managed by SMCA, as the dedicated management group for the Funds will continue to operate SMCA following the closing. Fund unitholders are not required to take any action. The transaction is subject to customary regulatory approvals.