National Australia Bank has fully sold down its remaining stake in former US subsidiary Great Western Bancorp.
The bank has sold the remaining 16.5 million shares it owned in the lender as part of an effort to divest its underperforming international businesses and focus on its core Australian and New Zealand operations.
NAB began selling down its holding in Great Western and has received approximately $1.46 billion for its entire holding, which is a $396 million loss compared to the US lender's book value.
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