Australia’s competitions watchdog approves NAB’s acquisition of Citi’s local consumer unit


FILE PHOTO: The logo of the National Australia Bank is displayed outside their headquarters building in central Sydney, Australia August 4, 2017. REUTERS/David Gray

November 24, 2021

(Reuters) – Australian competitions regulator on Thursday said it would not oppose National Australia Bank’s proposed acquisition of Citigroup’s local consumer unit.

National Australia Bank in August said it would acquire Citigroup Australia Pty Ltd for about $882.24 million.

(Reporting by Sameer Manekar in Bengaluru; Editing by Anil D’Silva)

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