National Australia Bank Limited (ASX:NAB) has signed a Sale and Purchase Agreement to sell 100% of MLC Wealth to IOOF Holdings Ltd for A$1,440 million.
The agreement follows the strategic decision announced by the company in 2018 to pursue an exit of MLC Wealth and is in line with the company’s strategy to simplify and focus on its core banking business, while creating a stronger future for MLC.
At AEST 11:46 AM, NAB shares are trading at A$18.04, up 0.613% from the previous close.
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