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MLC ownership update


Agreement to sell MLC to wealth manager IOOF

On 31 August 2020 NAB announced an agreement to sell MLC to wealth manager, IOOF. Together MLC and IOOF would form Australia’s leading wealth manager looking after more than 2.4 million Australians. The sale is subject to regulatory approval and is expected to complete between April and June 2021. Until this time MLC and IOOF will continue to operate as two separate companies.

Throughout the sale and beyond, we’ll continue to provide investments, superannuation and financial advice to our corporate. institutional and retails clients and we’ll always put our clients at the heart of everything we do.

An important part of that is keeping everyone informed about progress on the sale, so you can see any updates and major announcements below.

View the sale announcements of 31 August 2020

NAB Sales Announcement (PDF, 43KB) 
IOOF Sales Announcement (PDF, 207KB)