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Japan s Sumitomo Mitsui to buy 5% of Jefferies for $380M - report

+5.39% SMFG, in a statement, confirmed that it is considering the capital tie-up with Jefferies and would make an announcement when the two companies agreed to a deal. Japanese banks have been seeking business opportunities abroad as the country faces an aging and shrinking population. Earlier this month, SMFG announced its plans to buy a 74.9% stake in Fullerton India for $2 billion, the first major foray by a Japanese bank into India during recent times.

Japan s Sumitomo Mitsui to buy 5% of Jefferies for $380 million -Nikkei

By Reuters Staff 2 Min Read TOKYO (Reuters) -Sumitomo Mitsui Financial Group Inc plans to buy nearly 5% of Jefferies Financial Group Inc shares for $386 million, the U.S.-based company said on Wednesday, as the Japanese firm looks to boost its presence in the United States. FILE PHOTO: A man walk past a signboard of Sumitomo Mitsui Banking Corporation s signboard at its branch in Tokyo, Japan, January 25, 2017. Picture taken on January 25, 2017.REUTERS/Kim Kyung-Hoon The companies will also form a partnership to seek cross-border M&A opportunities involving Japanese companies, New York-based Jefferies said bit.ly/3iauf5j. Japan’s second-biggest lender by assets will also provide a $1.65 billion revolving credit facility and a $250 million subordinated loan to support Jefferies’ lending capabilities.

Japanese firms agree to sell payment startup Pring to Google

Japanese firms agree to sell payment startup Pring to Google
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