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TOKYO: Nomura Holdings said on Tuesday it will buy the European and Middle Eastern equities and investment banking operations of Lehman Brothers for an undisclosed sum.
The announcement came a day after the top Japanese brokerage group confirmed a deal to buy all Asian operations of the collapsed US investment firm.
"The acquisition will provide Nomura with a market leading equities and investment banking platform in the region and further enhance Nomura's strategy of connecting Asia and Europe," the company said in a statement.
Nomura said "a significant proportion" of Lehman's 2,500 staff in the regions will be retained. Financial terms were not disclosed.
"In the past 24 hours Nomura has executed two transformational deals," said Nomura's CEO Kenichi Watanabe. "This transaction will significantly extend our European footprint and international reach, enabling us to realise our strategy of delivering Asia to the world."
"Our immediate priority is to get the equity and investment banking divisions back in business operating under the Nomura name," he said.
As well as Nomura, British bank Barclays were said to be in the race for Lehman's European arms.
Barclays has however succeeded in acquiring the North American investment banking and capital markets businesses of Lehman for 1.75 billion dollars. - AFP/de
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