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CI share sale nets Scotiabank extra $150-million gain Add to ...

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Bank of Nova Scotia’s decision to sell the majority of its stake in CI Financial Corp. is benefitting the bank more than originally thought.

At first Scotiabank said it would recognize a $400-million gain, after tax, from selling its shares for much more than their book value. Now the bank says it will generate another $150-million gain stemming from a read of certain accounting rules.

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