Nomura aims for more sustainable Wall Street role
11/12/2019 19:46
(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own.)
By Antony Currie
NEW YORK, Dec 11 (Reuters Breakingviews) - Japan’s biggest
brokerage has tried for decades to build an enduring U.S.
investment bank. Its latest attempt involves buying
renewable-energy boutique Greentech Capital. It’s a small but
focused deal in a growing market. That should increase the odds
of Nomura making it work.
Full view will be published shortly.
On Twitter https://twitter.com/AntonyMCurrie
CONTEXT NEWS
- Nomura on Dec. 11 said it has agreed to buy Greentech
Capital Advisors, a U.S. M&A boutique specializing in renewable
energy, sustainable technology and infrastructure. Terms of the
deal were not disclosed, but the Nikkei Asian Review had earlier
reported the Nomura might pay 10 billion yen (around $100
million) for Greentech.
- Greentech was founded by former UBS investment-banking
boss Jeffrey McDermott in 2009 and currently has 75 financial
professionals in New York, San Francisco and Zurich. Once the
deal closes the firm will be rebranded Nomura Greentech.
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Nomura announcement https://www.nomuraholdings.com/news/nr/holdings/20191212/20191212.pdf
Greentech slides https://www.greentechcapital.com/wp-content/uploads/2019/12/Greentech-Announcement-Presentation-2019.12.pdf
BREAKINGVIEWS-Nomura takes the easiest road with new CEO
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BREAKINGVIEWS-Nomura revival buys CEO times and Wall Street cred
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(Editing by Richard Beales and Amanda Gomez)
((antony.currie@thomsonreuters.com; Reuters Messaging:
antony.currie.thomsonreuters.com@reuters.net))