Oct 2 (Reuters) - Scotia Capital Inc, a unit of Bank of Nova Scotia BNS.TO, and Alberta Investment Management Corp (AIMCo) said they would cut their stake in the owner of Toronto Stock Exchange to less than 5 percent each.
The two companies agreed to sell 2.75 million shares each of TMX Group Ltd X.TO , representing 9.9 percent of the company's outstanding shares, at C$67 apiece. TMX shares closed at C$70.50 on Monday.
In August, AIMCo said it would sell 1.8 million shares of TMX. completion of the sale, Scotia Capital and AIMCo will no longer be entitled to appoint nominees to TMX's board, the companies said.