Announced
Completed
Financials
Tags
Completed
financial services
Private Equity
Single Bidder
United States
Acquisition
Friendly
investment bank
Cross Border
Minority
Private
Investment Banking
Synopsis
Sumitomo Mitsui Banking Corporation, a commercial banking subsidiary of SMFG and one of the largest banks globally on the basis of total assets, completed the acquisition of a minority stake in Jefferies Financial Group, a leading, global, full-service investment banking and capital markets firm that provides advisory, sales and trading, research and wealth management services, for $3.4bn. "This will give us access to more, and larger, public companies. This is hugely strategic and deeply long-term," Brian Friedman, Jefferies President.
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