25 February 2018
visit www.ebaday.com

Citi scoops $197.1 million from sale of Japanese brokerage to Nomura

02 July 2009  |  1530 views  |  0 Source: Citi

Nikko Citi Holdings Inc. ("Nikko Citi Holdings") announced today that a definitive agreement has been executed to sell all of the shares of NikkoCiti Trust and Banking Corporation ("NikkoCiti Trust") to Nomura Trust & Banking Co. Ltd. ("Nomura Trust"). Nomura Trust will pay an all-cash consideration of 19 billion yen (US$197.1 million at an exchange rate of ¥96.42 to US$1.00), subject to certain purchase price adjustments, at the closing. The sale is expected to close in the fourth quarter of 2009, pending regulatory approvals and other closing conditions.

"This transaction is in line with Citi's stated global priority to allocate capital and focus its resources on the best growth opportunities. Citi will maintain a strong presence in securities services and transaction services in Japan. We see significant opportunity for these businesses in Japan, which play to Citi's key strengths." said Nikko Citi Holdings CEO Douglas Peterson.

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
Visit https://www.capgemini.comVisit http://info.nice.comvisit www.nextgenbanking.co.uk

Top topics

Most viewed Most shared
Ripple makes new connections to emerging marketsRipple makes new connections to emerging m...
12663 views comments | 16 tweets | 10 linkedin
hands typing furiouslySome Interesting Applications Of The Inter...
10829 views 4 | 9 tweets | 1 linkedin
Basel Committee outlines disruptive fintech scenariosBasel Committee outlines disruptive fintec...
9327 views comments | 15 tweets | 26 linkedin
Investment Association sets up fintech accelerator for asset managersInvestment Association sets up fintech acc...
8689 views comments | 19 tweets | 10 linkedin
R3 creates Legal Centre of Excellence for blockchain technolgyR3 creates Legal Centre of Excellence for...
8629 views comments | 11 tweets | 14 linkedin

Featured job

Six-Figure-Base, Double OTE, Benefits Package
London, UK

Find your next job