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The Australian Prudential Regulation Authority (APRA) has approved IOOF’s bid to acquire MLC, including responsible superannuation entity (RSE) NULIS Nominees (Australia) Limited.
On 31 August, 2020, IOOF entered into an agreement with National Australia Bank (NAB) to acquire MLC wealth management businesses.
In an announcement to the Australian Securities Exchange (ASX), IOOF said it was working with NAB towards a completion date of 31 May, 2021 post market close.
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