Lehman Brothers and Citigroup Sell off Asian Assets

October 2008 | M&A News Alert

The repercussions of the global financial crisis continue to reverberate around Asia, and two key deals were agreed on September 7 and 8 with US finance giant Citigroup spinning off its Indian back office operations, and Japanese finance major Nomura picking up three Indian affiliates of bankrupt securities firm Lehman Brothers. Nomura will acquire Lehman's business process outsourcing (BPO) unit in Powai, as well as three financial support services affiliates, also based in Mumbai. The announcement comes hot on the heels of Nomura's acquisition of Lehman's Asia Pacific franchise, and its European and west Asian equity and investment banking operations.

If you would like to subscribe to Corporate Financing Week and gain instant access to this article, please click here to subscribe.

If you would like to take a trial to Corporate Financing Week please click on the trial link below.