Nomura wins over Barclays for Lehman Brothers Europe

Nomura the Japanese brokerage firm has confirmed that they are buying the Middle Eastern and European equities and investments banking operations of collapsed US investment bank Lehman Brothers.

UK bank Barclays were also bidding for the European arm of Lehman but they pulled out of the negotiation allowing Nomura to strike the deal, Nomura has said that the majority of the 2,500 members of staff at the Lehman Brothers will keep their jobs with the highest proportion being retained at the offices in Canary Wharf, London.

Nomura have signed two transformational deals in the past 24 hours, the Japanese firm also signed a deal to take over Lehman operation in Asia Pacific. Nomura have not disclosed how much they were paying for both Lehman operations, but it is said that the European deal does not include any trading liabilities or trading assets.

Read the full story in the Guardian