Nippon's buy of NAB's insurance business to boost AUD?

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 27, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Bali) - National Australia Bank has been placed in a trading halt as reports emerge that Nippon Life will buy roughly 80 per cent of the bank's life insurance business for 220 billion yen ($2.5 billion), reports Clancy Yeates, banking reporters for Sydney Morning Herald.

    Clancy expands: "Japanese news outlet Yomiuri reported Nippon would own about 80 per cent of the unit, according to Bloomberg. In its request for a trading halt, which NAB expects to last until tomorrow, NAB said it would soon make an announcement on a "material transaction."
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