TORONTO, Oct. 31, 2023 /CNW/ - Canadian Tire Corporation, Limited (TSX: CTC) (TSX: CTC.A) ("CTC" or "the Company") today announced that it has completed the repurchase of Scotiabank's 20% stake in Canadian Tire Financial Services ("CTFS"). This all-cash transaction, valued at $895 million, restores CTC's full ownership of its financial services arm. The transaction will enhance CTC's flexibility in delivering added value to its more than 11 million active loyalty members, including its 2.3 million credit card holders. CTFS plays a pivotal role in the Company's Triangle Rewards loyalty program, representing approximately 75% of all Canadian Tire Money ("eCTM") issued to members annually.
Read more at newswire.caCanadian Tire Corporation to accelerate the growth of Triangle Rewards with strategic repurchase of Financial Services business stake from Scotiabank
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