|
|
|
Wednesday July 1, 6:04 PM
Nomura to buy NikkoCiti Trust from CitigroupJapan's top securities firm Nomura Holdings said Wednesday that it had agreed to buy NikkoCiti Trust and Banking Corp. from US giant Citigroup for 19 billion yen (200 million dollars).
Nomura said the cash acquisition by its wholly owned subsidiary, Nomura Trust and Banking Co., was expected to be completed by around October.
Citigroup has been seeking to sell some of its assets in Japan as part of efforts to recover from losses triggered by the global financial crisis.
It has already agreed to sell its Japanese brokerage arm Nikko Cordial Securities and part of the investment bank Nikko Citigroup to Sumitomo Mitsui Financial Group for 545 billion yen.
The Nikkei business daily reported last week that Sumitomo Trust & Banking Co. was in the final stages of talks to buy Nikko Asset Management Co. from Citigroup for more than one billion dollars.
|
|
Copyright ©
2008
AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.
|
