The retailer said in a release it now has full ownership of Canadian Tire Financial Services again after buying the 20 per cent stake back from Scotiabank in an all-cash deal. (The Logic)
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The retailer said in a release it now has full ownership of Canadian Tire Financial Services again after buying the 20 per cent stake back from Scotiabank in an all-cash deal. (The Logic)
Talking point: Canadian Tire CEO Greg Hicks said loyalty reward programs and their integration with financial institutions “evolved significantly” since it first struck the agreement with Scotiabank in May 2014 for $500 million in cash. The deal will help it offer more value to its 11 million active Triangle Rewards members, the retailer said, in part by expanding its credit card program. Canadian Tire revamped its loyalty program in April 2018, offering a no-fee credit card as part of the new system. The company also said it will enlist Goldman Sachs to evaluate strategic alternatives for the financial services division.
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