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- Jefferies Financial Group (NYSE:JEF), Sumitomo Mitsui Financial (NYSE:SMFG), Sumitomo Mitsui Banking, and other group companies (collectively, SMBC Group) to further expand their global strategic alliance to now include enhanced collaboration across Europe, the Middle East and Africa on future corporate and investment banking business opportunities.
- In support of the initial strategic alliance in 2021, SMBC provided $2.25 billion in financing to Jefferies and purchased approximately 4.5% of the issued and outstanding common shares of Jefferies.
- In April 2023, the alliance was further bolstered by SMBC announcing its intention to raise its economic ownership to up to 15% on an as converted and fully diluted basis, which would result in SMBC becoming one of Jefferies’ most significant shareholders.
- The extended arrangement will benefit clients through the collective global insights and capabilities delivered from the comprehensive corporate and investment banking product and advisory platform offered by the two firms, they said Tuesday.
- Source: Press Release
Strategic Collaboration in the Face of Economic Uncertainty
