The Scotiabank acquisition of Toronto-headquartered DundeeWealth is now complete, having been accepted by 97 per cent of DW shareholders, adding to a number of Canadian merger and acquistion deals in the wealth management sector in recent months.

Payment to depositing DundeeWealth shareholders will be made by the depositary as soon as practicable, Scotiabank said in a statement.

Originally announced in November last year, the deal was valued at C$2.3 billion.

"The completion of this transaction brings the strengths of DundeeWealth and Scotiabank together," said Chris Hodgson, group head, Scotiabank Global Wealth Management.  "In the days ahead, we will be working closely with the DundeeWealth team to provide a seamless transition for our stakeholders."

Scotiabank Group and its affiliates have some 18.6 million customers in more than 50 countries around the world. Its products and services include personal, commercial, corporate and investment banking.