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% stake in the private equity firm and is now looking to acquire the remaining 53.8%. 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.
D.C.