LOC10:56
07:56 GMT
TOKYO, Sept 26 (KUNA) -- Nomura Holdings Inc., Japan's largest brokerage,
will pay just two dollars for the bankrupt US Lehman Brothers Holdings Inc.'s
investment banking and equities operations in the Middle East and Europe, a
top-selling business daily here reported Friday.
The Tokyo-based Nomura got the rock-bottom price because it will take over
only the failed Wall Street firm's employees, and not its stocks, bonds or
other assets, the Nikkei Shimbun said.
The fate of its employees was a major concern for Lehman in the bidding
from which Nomura emerged victorious on September 23. Nomura said earlier this
week that it would keep all 3,000 workers in Asia and retain most of roughly 2,
500 staff in the Middle Easten and European regions.
The Japanese firm apparently offered to keep far more employees than did
Barclays Plc and other potential buyers. While the actual price tag is only
two dollars, Nomura is assuming the cost of keeping Lehman workers, the daily
said. As for the Lehman's Asia-Pacific business, media reports said Nomura won
the bid for USD 225 million.
Meanwhile, Nomura has gained approval from the Securities Commission of
Malaysia to establish a new brokerage house in Malaysia, according to a
statement released by the firm on Friday.
"The new stock broking company will allow Nomura to further support the
Malaysian capital markets by attracting more fund flow from the Middle East
and other foreign markets into Malaysian stocks and Islamic financial
instruments," Satoshi Imai, chief of Nomura Malaysia Sdn. Bhd said in the
statement.
"Malaysia is becoming an increasingly important financial district in South
East Asia, particularly with the rapid development of Islamic finance in
recent years," he added.
Nomura has had a presence in Malaysia since 1993 with a particular focus on
providing corporate advisory services to Malaysian institutions. Based in
Tokyo and with regional headquarters in Hong Kong, London, and New York,
Nomura employs about 18,000 staff worldwide. (end)
mk.ema
KUNA 261056 Sep 08NNNN