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Thursday, March 28, 2024

BDO buys out Nomura stake in joint venture

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BDO Unibank Inc., the country’s largest lender controlled by the Sy family, said Thursday it completed the buyout of Nomura Holdings Inc.’s ownership in BDO Nomura Securities Inc.

BDO said the latest development followed an announcement on June 23, 2020 terminating their joint-venture arrangement. BDO Capital & Investment Corp., a wholly-owned subsidiary of BDO, acquired Nomura’s 49-percent stake in BDO Nomura.

BDO Nomura will then be merged with BDO Securities Corp., with the latter as the surviving entity. BDO Securities will be reorganized into a full-service brokerage firm with an expanded product offering to include non-equity securities.

BDO announced in June a plan to buy out Nomura Holdings Inc.’s entire holdings in their joint-venture arrangement under BDO Nomura Securities Inc. BDO owned 51 percent of BDO Nomura, with Nomura (through Nomura Asia Investment (Singapore) Pte. Ltd.) holding the remaining 49 percent.

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