Clydesdale Bank set to regain independence after Australian shareholders back demerger plan
NATIONAL Australia Bank has said its shareholders have voted overwhelmingly in favour of plans to demerge Glasgow-based Clydesdale Bank.
The vote paves the way for Clydesdale and its sister Yorkshire Bank to float on the stock market next month, as CYBG Group.
NAB expects the flotation to value the group at up to around £2 billion.
CYBG’s chief executive, David Duffy, believes the group can challenge the dominance of the big players in the UK.
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