Japan's SMFG to buy nearly 5% of Jefferies for $386 million [Reuters]
Jefferies Financial Group Inc. (JEF)
Last jefferies financial group inc. earnings: 10/25 04:42 pm
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Source: Reuters
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. 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. The move is part of SMFG’s effort to create a foothold in the United States where its unit SMBC Nikko Securities has a small presence. SMFG currently doesn’t have any capital alliance with financial firms in the United States, according to the bank. While its predecessor bank invested in Goldman Sachs Group Inc in 1986, it has already severed the capital tie-up. In contrast, its b
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JEF
Earnings
- 3/27/24 - Miss
JEF
Sec Filings
- 4/23/24 - Form 424B2
- 4/23/24 - Form 424B2
- 4/19/24 - Form 424B2
- JEF's page on the SEC website