SMFG bags Citi’s Nikko Cordial Securities for $7.9bn
Troubled Wall Street giant Citi confirmed on Friday that it will sell its Japanese retail brokerage arm Nikko Cordial Securities to Sumitomo Mitsui Financial Group for ¥774.5bn ($7.9bn), ending weeks of speculation about the takeover.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article:
- ✔ 4,000 annual insights
- ✔ 700+ notes and long-form analyses
- ✔ 4 capital markets databases
- ✔ Daily newsletters across markets and asset classes
- ✔ 2 weekly podcasts