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NAB life sale expected

National Australia Bank may announce the sale of its life insurance unit to Japan's Nippon Life Insurance Company, Reuters and other media report.Japan's Yomiuri newspaper reported the price may be 220 billion yen (A$2.4 billion) but Reuters put it at 200 billion yen.NAB yesterday said it may announce a "material transaction" today, alongside its results for the year to September 2015. The price is consistent with speculation on the value of the deal in the middle of the year.Media reports have quoted analysts saying that a sale at the prices being suggested would add 50 to 60 basis points to the bank's common equity tier one capital ratio.

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