Australia's IOOF to buy NAB wealth management arm
Australian financial advisory, investment management and superannuation provider IOOF Holdings has agreed to acquire MLC, the wealth management arm of National Australia Bank (NAB), for A$1.44 billon ($1.03 billion).
MLC operates Australia’s biggest retail superannuation fund, which in turn has one of the country’s largest and most international private equity programs. The sale follows a strategic decision announced...
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