Last Updated : 15 February 2010 at 18:20 IST
Nomura gets power and gas business in Europe
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NEML is a wholly-owned subsidiary of Nexen Inc, a Canadian exploration and production firm listed on Canadian bourses as well as on the US. NEML has trading activities in the UK, Belgium, the Netherlands and Germany and access to a scalable physical platform, including natural gas storage and transportation capabilities.
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Nomura currently operates commodities businesses in Europe and Asia, primarily focused on providing commodity solutions to its institutional and corporate client base. The acquisition of NEML will be highly complementary to Nomura's existing Commodities franchise. The acquisition will also further enhance Nomura's highly regarded global investment banking franchise in the power and gas sector.
The company is a leading financial services group and the prominent Asian-based investment bank with worldwide reach. Nomura provides a broad range of innovative solutions tailored to the specific requirements of individual, institutional, corporate and government clients through an international network in over 30 countries.
Jason Tudor, Head of Commodities in EMEA at Nomura commented "The acquisition of NEML will immediately provide Nomura with a power and gas business in Europe and presence in our key focus European markets. It will enable us to trade with a broad range of highly regarded industrial and financial counterparties. We expect the business to significantly enhance our growing commodities business in the region."
Kieran Higgins, co-head of Fixed Income in EMEA said, "Nomura is actively looking to grow its position in Commodities, and this acquisition provides a timely opportunity for us. The newly acquired business will provide access to high quality clients, infrastructure and European markets and therefore significantly accelerate our goal of building scale in Commodities."
(with inputs from Marketwire)
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