April 19 (Reuters) - Canadian lender Bank of Nova Scotia
BNS.TO said it would sell Roynat Lease Finance, a unit of its
subsidiary Roynat Inc, to Meridian Credit Union Ltd.
Reuters, citing sources, reported in January that Scotiabank
was in talks to sell C$1 billion ($715 million) worth of assets
within Roynat, which it acquired about 20 years ago.
Scotiabank, Canada's No.3 lender, did not provide the
financial details of the sale.
"Our Roynat business is focused on lending to mid-market
companies to propel their growth and this lease finance business
is not core to that offering," Roynat President Phil Armstrong
said in a statement.