06 May 2021

Update on sale of MLC Wealth to IOOF

NAB today welcomed the Australian Prudential Regulation Authority’s (APRA) approval of the acquisition of MLC Wealth by IOOF Holdings Limited. With regulatory approval now provided by APRA, NAB and IOOF are working towards completion of the transaction on 31 May 2021.

The approval by APRA follows the prior decision by the Australian Competition and Consumer Commission in December 2020 to not oppose the transaction.

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