Japan’s Nomura to buy Lehman’s Asia business

Japan’s Nomura to buy Lehman’s Asia business
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First Published: Mon, Sep 22 2008. 01 13 PM IST
Updated: Mon, Sep 22 2008. 01 13 PM IST
Hong Kong: Nomura Holdings, Japan’s largest brokerage, has reached a deal to buy the Asian operations of Lehman Brothers, a source familiar with the matter said on Monday.
British bank Barclays Plc and Standard Chartered were also said by sources to be vying for the unit. No price was given for the deal.
Lehman Brothers last week filed for bankruptcy protection after collapsing from exposure to risky securities backed by subprime mortgages.
Barclays last week struck a $1.75 billion deal to buy Lehman’s core US investment banking business.
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First Published: Mon, Sep 22 2008. 01 13 PM IST