Business
APRA approves IOOF’s $1.4b MLC takeover – The Australian Financial Review
The deal will provide an exit for National Australia Bank from wealth management and make the combined group Australia’s largest provider of financial advice.
Central to our engagement with APRA was demonstrating how IOOFs strategic intent will deliver improved member outcomes. This transformational acquisition will create one of the industrys largest advice-led wealth management organisations.
Mr Mota had consistently told the market the deal was on track to receive the necessary approvals and complete by the slated date of June 2021, but some IOOF shareholders and observers had been nervous that the wealth managers previously thorny relationship with…
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