The Financial Post reports in its Wednesday, Nov. 1, edition that Canadian Tire is bringing its financial services unit fully in house. The Post's unbylined item reports that the retailer announced Tuesday that it has struck a deal to buy Bank of Nova Scotia's 20-per-cent interest in Canadian Tire Financial Services (CTFS) for $895-million in an all-cash deal. The agreement comes about 10 years after Scotiabank initially acquired its interest in the division for $500-million. In a release, Canadian Tire chief executive officer Greg Hicks said that while the partnership was fruitful, both companies' strategies had evolved over the past decade and it was time for the retailer to own the entirety of the unit. He said, "While we have appreciated partnering with Scotiabank over the past decade, with both Scotiabank and [Canadian Tire] having received significant strategic and financial benefits, concluding this partnership will give us much greater control and flexibility in building out our loyalty program." The company will record a $328-million charge tied to the transaction -- working out to $5.88 per share -- in the third quarter.