THE Bank of Nova Scotia (BNS or Scotiabank) plans to spend approximately $54 billion to acquire the remaining shares of Scotia Group Jamaica Limited and take the listed financial group private, raising questions about what changes for customers, how minority shareholders will vote, and what happens if the transaction is approved or rejected.

Scotiabank Caribbean Holdings Limited (SCHL) has offered $61.50 per share for the 878,189,600 Scotia Group Jamaica shares it does not already own.

If the transaction is completed, Scotia Group would become wholly owned by the Scotiabank parent and would no longer be listed on the Jamaica Stock Exchange (JSE). Its banking, investment and insurance businesses are expected to continue operating.