Nomura bids for Lehman Asia and Europe units

Mon Sep 22, 2008 2:28am BST
 
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TOKYO (Reuters) - Nomura Holdings (8604.T), Japan's largest brokerage, has bid for both the Asian and European operations of U.S. investment bank Lehman Brothers (LEHMQ.PK), two financial industry sources told Reuters.

Nomura executives visited Hong Kong over the weekend to propose buying Lehman's stock broking and investment banking divisions in Asia, according to the sources, who asked not to be identified as the information is not public.

Bank Barclays (BARC.L), which is buying Lehman's North American banking and capital markets businesses for about $1.7 billion (930 million pounds), Standard Chartered (STAN.L) and Samsung Securities Co (016360.KS) are also interested in Asian assets.

Nomura has also submitted a bid for Lehman's European operations, the two sources said.

The sale of the Asian and European units are being handled separately, but Nomura appears to have put forth attractive offers for both, according to one of the sources.

"Nomura's proposals are the most competitive and put it in the leading position," the source said.

Lehman Brothers last week filed for bankruptcy protection after collapsing from exposure to risky securities backed by subprime mortgages.

(Reporting by Emi Emoto and Taro Fuse; Editing by Nathan Layne and Rodney Joyce)

 
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