NAB Announces Agreement to Acquire Citigroup’s Australian Consumer Business

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NAB Announces Agreement to Acquire Citigroup’s Australian Consumer Business

National Australia Bank Limited (NAB) today announced it has entered into a Sale and Purchase Agreement with Citigroup Pty Limited ( Citigroup ) to purchase Citigroup’s Australian consumer business ( Citigroup Consumer Business ) (the Proposed Acquisition ). The Proposed Acquisition, which remains subject to regulatory approvals, is structured primarily as an asset and liability transfer, with NAB to pay Citigroup cash for the net assets of the Citigroup Consumer Business plus a premium…Read the full story at https://www.webwire.com/ViewPressRel.asp?aId=277606
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