Nomura to close acquisition of Lehman Brothers' Europe and Middle East investment banking and equities businesses on October 13
London, 6 October 2008 – Nomura, the pre-eminent Asia-based investment bank, today announced that the conditions to closing the acquisition of Lehman Brothers' investment banking and equities businesses in Europe and the Middle East had been met. The deal will become legally effective on Monday, 13 October.
The transaction represents a significant step for Nomura in its strategy to accelerate growth across international markets and follows the company's acquisition of Lehman Brothers' Asian franchise last week.
Nomura also announced that the vast majority of the top bankers from the businesses acquired in Europe and the Middle East have accepted positions with Nomura. Lehman Brothers' equities and investment banking businesses in Europe and the Middle East employed around 2500 staff, of whom a significant proportion are expected to be retained.
"This transaction, achieved in a very short period of time, is transformational for Nomura. We've moved with speed to bring it to a close so that business can be resumed without delay," said Sadeq Sayeed, Chief Executive of the acquired businesses in Europe and the Middle East.
"By securing the support of all the staff who have agreed to join, we have generated significant momentum in our efforts to get the businesses up and running under the Nomura name. We look forward to working alongside them to build a world class business."
For further information please contact:
Notes to editors:
Nomura is a leading financial services group and the preeminent Asian-based investment bank with worldwide reach. Nomura provides a broad range of innovative solutions tailored to the specific requirements of individual, institutional, corporate and government clients through an international network in 30 countries. Based in Tokyo and with regional headquarters in Hong Kong, London, and New York, Nomura employs about 18,000 staff worldwide. Nomura's unique understanding of Asia enables the company to make a difference for clients through five business divisions: domestic retail, global markets, global investment banking, global merchant banking, and asset management. For further information about Nomura, please visit www.nomura.com.