Nomura Holdings’s buyout arm has bid about Y300bn ($2.8bn) for Ashikaga Bank, a failed lender controlled by Japan’s government, reports Bloomberg, citing people familiar with the situation. Nomura Principal Finance is competing against a group of regional banks that includes Bank of Yokohama. The government may select a buyer as early as December. The Nikkei newspaper reported earlier Wednesday that Tokyo-based Nomura has offered Y290bn and the rival group bid Y310bn. Buying Ashikaga, which has deposits of about Y4.2 trillion, would be Nomura’s biggest acquisition in Japan and first bank purchase.

This entry was posted by Gwen Robinson on Wednesday, November 28th, 2007 at 5:27 and is filed under Capital markets, M&A. Tagged with Ashikaga Bank, nomura. Edit this entry.