Announced
Financials
Tags
wealth management
Asset Managers and Custodians
Pending
Friendly
Private
Single Bidder
Australia
Majority
Acquisition
Domestic
Synopsis
IOOF, an Australian financial services company, agreed to acquire MLC Wealth, the wealth management unit of National Australia Bank, one of the four largest financial institutions in Australia, for $1.1bn. "The combination of IOOF and MLC brings wide-ranging capabilities, technical expertise and a purpose driven mindset to enable the new-era group to significantly enhance choice, accessibility and client experience," Renato Mota, IOOF CEO.
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