Nomura buys Lehman Asia Pacific
(25 September 2008 – Asia) Japanese bank Nomura Holdings has bought the Asian and Australian operations of Lehman Brothers.
The acquisition includes the Lehman Brothers' franchise in the Asia Pacific region including Japan and Australia and is said to cost US$525 million (A$623 million).
The deal also includes all of Lehman Brothers' franchises and approximately 3,000 employees in multiple locations in the Asia-Pacific region.
In a press release, Nomura said that by combining two strong client franchises, the partnership will enable Nomura to strengthen its wholesale business and to further realise its strategy of delivering Asia to the world.
Under the terms of the transaction no Lehman employees in the Asia Pacific region will lose their jobs. All employees will be offered employment with Nomura,
Kenichi Watanabe, Nomura's president and CEO, said that the deal will significantly extend Nomura’s reach in Asia and help to deliver the scale and scope to realise their vision to be a world-class investment bank.
He added that the businesses that Nomura are acquiring are hugely successful with excellent management and staff.
Nomura’s ability to capitalise on this opportunity in spite of the volatile markets reflects their financial strength and demonstrates how well they have managed the credit crisis, Watanabe said.
The deal also includes all of Lehman Brothers' franchises and approximately 3,000 employees in multiple locations in the Asia-Pacific region.
In a press release, Nomura said that by combining two strong client franchises, the partnership will enable Nomura to strengthen its wholesale business and to further realise its strategy of delivering Asia to the world.
Under the terms of the transaction no Lehman employees in the Asia Pacific region will lose their jobs. All employees will be offered employment with Nomura,
Kenichi Watanabe, Nomura's president and CEO, said that the deal will significantly extend Nomura’s reach in Asia and help to deliver the scale and scope to realise their vision to be a world-class investment bank.
He added that the businesses that Nomura are acquiring are hugely successful with excellent management and staff.
Nomura’s ability to capitalise on this opportunity in spite of the volatile markets reflects their financial strength and demonstrates how well they have managed the credit crisis, Watanabe said.
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