Skadden leads on Nomura's $230m Lehman purchase
Skadden Arps Slate Meagher & Flom has landed the top role advising Nomura on its $230m (£124m) acquisition of Lehman Brothers' Asian businesses. The US firm is advising the Japanese bank from the firm's London and Hong Kong offices, with a team including Hong Kong corporate co-head Nick Norris, London restructuring partner Lynn Hiestand and London corporate partner John Adebiyi.Skadden is thought to be advising Nomura on its bid for the defunct investment bank's European assets.
September 23, 2008 at 11:01 AM
2 minute read
Skadden Arps Slate Meagher & Flom has landed the top role advising Nomura on its $230m (£124m) acquisition of Lehman Brothers' European and Asian businesses.
The US firm is advising the Japanese bank from the firm's London and Hong Kong offices, with a team including Hong Kong corporate co-head Nick Norris, London restructuring partner Lynn Hiestand and London corporate partner John Adebiyi.
Barclays had been competing with Nomura in a bidding war to acquire Lehman's Asian functions following the bank's shock collapse.
Nomura panel firm Osborne Clarke is advising on all employment aspects of the Japanese bank's bid for Lehman's European assets, with the firm fielding a team under employment partner Victoria Parry. Nomura relationship partner and employment chief David Cubitt and employment partner Richard Brown are assisting.
Linklaters is advising liquidators KPMG from the firm's Hong Kong office, with Asia corporate chief Keith Johnson taking the lead role, assisted by litigation partner Melvin Sng.
Barclays last week announced that it is to assume Lehman's American businesses for $1.75bn (£950m), taking on the fixed income, research departments, equities sales, and investment banking and trading operations in North America.
Clifford Chance (CC) won the lead role on that deal after the firm advised Barclays on its deserted bid to acquire the whole of Lehman Brothers.
The magic circle giant fielded a team under corporate partner Guy Norman, with corporate partner Patrick Sarch, regulatory partner Chris Bates, restructuring partner Nick Frome and capital markets partner Ed Bradley assisting.
City rival Herbert Smith is thought to have a close relationship with Nomura but refused to comment on any further involvement in the bank's actions.
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