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NatWest in pounds 52m sell-off.

NatWest has completed the disposal of the unwanted parts of its investment banking business.

The group yesterday sold most of its investment banking operations in Australian and New Zealand to rival Salomon Smith Barney for pounds 52 million.

Salomon picks up County NatWest Australia's equities and corporate finance divisions and part of its financial markets division.

The businesses being sold employ 400, with the deal expected to be completed next month.

County NatWest Australian's investment management business was sold to National Australia Bank last October.
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Publication:The Birmingham Post (England)
Date:Feb 10, 1998
Words:85
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