Daiwa Securities SMBC Europe Limited (Daiwa SMBC Europe), the European subsidiary of Japanese investment bank, Daiwa Securities SMBC (Daiwa SMBC), is acquiring Close Brothers Corporate Finance Holdings (CBCF) from Close Brothers Group, for a cash consideration of £75 million.
CBCF, which has operations in the UK, France, Spain, Germany and Switzerland, will be a stand alone business working in alliance with Daiwa SMBC’s other international corporate finance operations. It has been reported that CBCF will continue to provide independent corporate finance advice and trade under its existing name for up to 12 months.
The acquisition is part of Daiwa SMBC’s strategy to build a global independent corporate advisory business. The acquisition is subject to regulatory approval.
Uk-based Close Brothers Corporate Finance is an independent, European corporate finance adviser.
