Travelers to get 25% stake in Japanese brokerage house
Article Abstract:
Travelers Group has acquired a 25% share in Nikko Securities Company, the third-largest securities brokerage company in Japan. The acquisition price was $1.6 billion. Questions arose as to how the financial industry in Japan would consolidate as a result of the deal. The deal takes place as Japan implements a wide financial restructuring that is designed to make its markets more flexible. The deal also produced worries among the rivals and clients of both companies.
Comment:
Travelers Group has acquired a 25% share in Nikko Securities Company for $1.6 billion
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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Travelers deal with Nikko set for today
Article Abstract:
Travelers Group Inc. and the Nikko Securities Company will form an extensive securities business partnership. The partnership involves an investment by Travelers of approximately $1.6 billion to purchase up to one-fourth of Nikko. Nikko is the third-largest brokerage company in Japan. The investment would be the first time that a foreign company will have acquired a significant share in one of the largest financial firms in Japan.
Comment:
Travelers to invest approximately $1.6 billion to purchase up to one-fourth of Nikko
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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Stake in Nikko to be bought by Salomon
Article Abstract:
Salomon Smith Barney has announced that it plans to purchase a minority stake in Nikko Securities Company. The US investment bank, which will ulitmately come under the control of Citigroup, will pay about $461 million for its stake in Nikko. Having a share in the firm would aid Salomon in entering the Japanese brokerage business, as Nikko would provide Salomon with a wide distribution of financial products.
Comment:
Salomon Smith Barney plans to purchase a 10% stake in Nikko Securities
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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Comment about this article or add new information about this topic:
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