Canadian Tire clears hurdles to partner with Scotiabank

TORONTO — Canadian Tire Corp. and Scotiabank have managed to get the regulatory approvals required for them to launch a new business and co-marketing partnership. The proposed deal, first announced May 8, 2014, has Scotiabank acquiring a 20% interest in Canadian Tire’s financial services business for $500 million in cash. It further includes a comprehensive co-marketing agreement aimed at building business for both partners.