Nomura to acquire Lehman Europe

The acquisition will provide Nomura with a market leading equities and investment banking platform in the region and further enhance Nomura's strategy of connecting Asia and Europe. The deal follows Nomura's agreement on Monday to acquire Lehman Brothers' entire franchise in the Asia Pacific region including Japan and Australia.

Lehman's 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. The deal does not include any trading assets or trading liabilities and Nomura will pay an undisclosed sum for the businesses.

Kenichi Watanabe, Nomura's CEO, said: "In the past 24 hours Nomura has executed two transformational deals. This transaction will significantly extend our European footprint and international reach, enabling us to realise our strategy of delivering Asia to the world. Our immediate priority is to get the equity and investment banking divisions back in business operating under the Nomura name."

The transaction is subject to a number of conditions including regulatory approvals.