Nomura Holdings is in talks to buy a stake in unlisted Indian financial services group Enam to help it expand in Asia’s third-biggest economy.Executive vice-president Hiromi Yamaji also said that its investment banking business has seen a considerable increase in deals in its pipeline that are larger than 100 billion yen ($870 million) including cross-border deals.
There were reports in June Nomura may buy a 35% stake in Enam for Rs14 billion (Rs1,400 crore, $348 million) in what would be Nomura’s second attempt to forge a joint venture with an Indian firm following a failed attempt in the 1990s with UTI Securities.Yamaji said Nomura was exploring various options in India including Enam.
Nomura posted a quadrupling of net profit in the April-June quarter, boosted by a handful of big deals in its investment banking division including a share issue by air conditioner maker Daikin Industries Ltd.
Read more in The Livemint article.
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