Lehman agrees to sell service platform in India to Nomura Holdings

By Jennifer Lanning Drey

Portland, Ore., Oct. 6 - Lehman Brothers Holdings Inc. has agreed to sell three specialized service companies based in Mumbai, India, to Nomura Holdings, Inc., according to a Nomura news release.

Lehman has agreed to sell Nomura all of the assets and issued and unissued stock of Lehman Brothers Services India Private Ltd., Lehman Brothers Financial Services (India) Private Ltd. and Lehman Brothers Structured Finance Services Private Ltd.

Nomura said it also agreed to acquire Lehman's Asia Pacific franchise and its European and Middle Eastern equities and investment banking operations last month.

The operations provide operational support, particularly in the area of internet technology, across the Lehman network.

Nomura said the acquisition is an important component of its global expansion strategy.

New York-based Lehman Brothers Holdings is the fourth largest investment bank in the United States. The company filed for bankruptcy on Sept. 15. Its Chapter 11 case number is 08-13555.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.