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IOOF Holdings completes acquisition of NAB's trustees biz

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IOOF Holdings completes acquisition of NAB's trustees biz

IOOF Holdings Ltd. completed its acquisition of National Australia Bank Ltd.'s National Australia Trustees Ltd., InvestorDaily reported Sept. 29.

The purchase was made through IOOF subsidiary Australian Executor Trustees Ltd., the publication noted.

IOOF said in June it would acquire National Australia Trustees, subject to regulatory approval, to become one of the country's largest compensation trust providers.