Scotiabank's Rumoured Interest in Chile's Banco del Desarrollo

Business News Americas, 9 August 2007Scotiabank will over the next month launch a tender offer to take over Chile's Banco del Desarrollo in a deal worth some US$1bn, local press reported.The tender offer will be launched after the due diligence process, which could take a month to complete, Diario Financiero reported. Scotiabank will then offer US$1bn in cash to shareholders, the paper said.