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MENOMONEE FALLS, Wis. (AP) — Senior living facility operator Assisted Living Concepts Inc. said Friday its largest shareholder, Scotia Investments Ltd., has transferred its shares to a former affiliate, Thornridge Holdings Ltd.

The transfer is part of the reorganization by Scotia Investments.

Assisted Living said it doesn't expect the transfer of ownership to affect the company.

Shares of Assisted Living rose 71 cents, or 2.2 percent, to end at $33.31.

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