BDO Unibank, Inc. (BDO) announced an agreement on the fundamental principles to buy out Nomura Holdings, Inc.’s (Nomura) entire holdings in their joint venture arrangement under BDO Nomura Securities, Inc. (BDO Nomura).
BDO currently owns 51% of BDO Nomura, with Nomura (through Nomura Asia Investment (Singapore) Pte. Ltd.) holding the remaining 49%. The original joint venture arrangement was inked in January 2016, with BDO Nomura commencing operations in October 2016.
The transaction will enable BDO to consolidate its securities brokerage business into BDO Securities Corp., which is being reorganized into a full-service brokerage firm with an expanded product offering to include non-equity securities.
The transaction is subject to further discussion and final agreements, in addition to any required corporate and regulatory approvals.
