Nomura to buy Lehman's Asia-Pacific assets

The acquisition of the Asian operations of Lehman Brothers gives JapanÆs only independent investment bank a huge boost.

On Monday evening, JapanÆs leading independent investment bank, Nomura, confirmed it has agreed to acquire Lehman BrothersÆ operations in Asia-Pacific. The price was not disclosed, but sums ranging from $250 million to $500 million were talked about in the market. A Nomura source says it is not possible to give a final price until the remuneration for Lehman's staff has been worked out. The acquisition will be financed out of the $6 billion of subordinate loans and bonds that Nomura...

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