Nomura to Acquire NikkoCiti Trust and Banking Corporation
Tokyo, July 1, 2009 – The Nomura Trust and Banking Co., Ltd., a wholly owned subsidiary of Nomura Holdings, Inc., today announced that it has reached an agreement with Nikko Citi Holdings Inc. and Citigroup International LLC to acquire all of the shares of NikkoCiti Trust and Banking Corporation.
Nomura Trust and Banking will pay an all-cash consideration of 19 billion yen, subject to certain price adjustments, at closing. The sale is expected to close around October 2009, pending regulatory approvals and other closing conditions.
NikkoCiti Trust and Banking's business focuses on providing fiduciary and trustee services to investment trust management companies. The acquisition will allow Nomura Trust and Banking to further its strategy of positioning fund trustee and administration services as part of its core business.
Established in 1993, NikkoCiti Trust and Banking employed 107 people as of March 31, 2009, and had capital of 20 billion yen. Total trust assets stood at around 4.5 trillion yen at the end of March.
Nomura Trust and Banking provides both trust and banking services as a key Nomura Group company. Founded in 1993, Nomura Trust and Banking employed 261 people as of March 31, 2009, and had capital of 30 billion yen. Total trust assets were around 19.5 trillion yen at the end of March.
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Nomura
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 over 30 countries. Based in Tokyo and with regional headquarters in Hong Kong, London, and New York, Nomura employs about 26,000 staff worldwide. Nomura's unique understanding of Asia enables the company to make a difference for clients through five business divisions: retail, global markets, investment banking, merchant banking, and asset management. For further information about Nomura, please visit www.nomura.com.
