Daiwa acquires CBCF for £75m

Daiwa Securities SMBC Europe, the European subsidiary of Japanese investment bank Daiwa Securities SMBC Co, has agreed to acquire Close Brothers Corporate Finance from Close Brothers Group plc for £75m. London-based Close Brothers Corporate Finance will continue to trade under its existing name for up to 12 months and will work as a stand alone business in alliance with Daiwa SMBC's other international corporate finance operations.

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