Scotiabank Buys Sun Life's CI Financial Stake

Bloomberg, Frederic Tomesco and Sean B. Pasternak, 6 October 2008Bank of Nova Scotia, Canada's third- biggest bank, agreed to buy Sun Life Financial Inc.'s stake in money manager CI Financial Income Fund for C$2.3 billion ($2.1 billion), the biggest acquisition in the bank's 176-year history.Scotiabank will pay C$22 a share in cash for a 37 percent stake in CI Financial, said Chris Hodgson, head