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Daiwa Securities aims takeover of private equity firm Daiwa SMBC Capital

15 May 2009

Daiwa Securities Group, Inc, one of Japan’s biggest securities brokerages, is planning to launch a takeover bid to acquire the remaining shares of private equity and venture capital firm Daiwa SMBC Capital, according to reports.

Daiwa Securities already owns a 46.2 per cent stake in the private equity firm and is now looking to acquire the remaining 53.8 per cent. The group is offering to pay 563 yen ($5.92) per share, for 5.74 million shares.

The transaction, which if completed will make Daiwa SMBC Capital a wholly-owned subsidiary of Daiwa Securities Group, is expected to close on 18 June.

Both firms are based in Japan.

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