Nomura to buy GE Capital's China unit:report

Nomura Holdings, Japan’s biggest brokerage, is set to buy a China unit of GE Capital that will help it expand into Asia’s largest economy, the Wall Street journal reported.

[caption id=“attachment_111156” align=“alignleft” width=“380” caption=“It added that Nomura was also seeking a securities joint-venture partner to allow it to underwrite stock and bond transactions in China. Reuters”] [/caption]

Acquiring the consumer finance business will allow it to offer yuan-denominated products to local investors, the paper said. It added that Nomura was also seeking a securities joint-venture partner to allow it to underwrite stock and bond transactions in China, where rivals such as Goldman Sachs already operate securities joint ventures.

Nomura is still waiting for China’s financial regulators to approve the deal for the GE Capital unit, the WSJ said.

Reuters