Nomura Holdings, Inc. and Fortress Investment Group LLC have formed an agreement in which Nomura will acquire a 15 percent stake in Fortress Investment Group for approximately USD888 million. Under the agreement, Nomura will own Class A shares representing 15 percent of Fortress with proceeds going to the Fortress principals. This transaction is expected to facilitate the expansion of Fortress’s business in Asia.
Skadden, Arps, Slate, Meagher & Flom LLP acted as legal adviser to Fortress. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal adviser to Nomura. Nomura Securities Co., Ltd. and Bear Stearns & Co. Inc. acted as financial adviser to Nomura. The transaction, which is subject to customary conditions, is expected to close in January 2007.