Travelers to acquire 25% stake in Nikko
Article Abstract:
Nikko Securities Co., Japan's 3rd largest securities firm, will receive an infusion of $1.6 billion from Travelers Group for a 25% stake. Later in the year a joint venture will be formed called Nikko Salomon Smith Barney Ltd. which will be located in Tokyo. The office will be run by Travelers' Salomon Smith Barney securities unit. This is the third large deal in nine months whereby Travelers is proving its intention of becoming a global financial powerhouse.
Comment:
Will buy a 25% stake in the third largest securities firm in Japan for $1.6 billion
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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AIG to acquire 7% in Blackstone and provide $1.2 billion for investments
Article Abstract:
American International Group Inc. (AIG) has reached an agreement to acquire a minority share of 7% in the Blackstone Group. AIG has also agreed to invest $1.2 billion in capital in Blackstone. The deals represent one of the largest single investments in the growing buyout sector ever. AIG will pay Blackstone $150 million for the acquisition of the minority share. The deal places a minimum value of $2.2 billion on Blackstone.
Comment:
AIG to acquire a minority share of 7% in the Blackstone Group
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Nikko pact sets stage for linkups
Article Abstract:
Nikko Securities Co.'s deal with Travelers Group Inc. shows that Japan's largest and most powerful financial companies will be changed by an industry consolidation in the country. Nikko will undergo a major transformation as a result of its deal with Travelers Group. Other major Japanese institutions will have to respond with alliances that expand worldwide but that also deal with the deregulating market in Japan.
Comment:
Nikko's deal with co shows that Japan's largest and most powerful financial co changed by an ind consolidation
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Travelers to get 25% stake in Japanese brokerage house. Stake in Nikko to be bought by Salomon. Travelers deal with Nikko set for today
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