JEF - Jefferies Financial Group SMBC forms strategic alliance to drive growth

Scott Barbour/Getty Images News Jefferies Financial Group (JEF) up 3.5% premarket, Sumitomo Mitsui Financial Group (SMFG), and SMBC Nikko Securities have entered into a strategic alliance to collaborate on future corporate and investment banking business opportunities. Pursuant to the strategic alliance, Jefferies and SMBC Group will coordinate across highly accretive growth areas in the corporate and investment banking business to strengthen the existing businesses of both firms, and enhance each firm's ability to support its clients' needs. Jefferies and SMBC Group will, among other things, coordinate efforts in the U.S. leveraged finance business to expand and scale existing offerings; form a global strategic partnership to seek cross-border M&A opportunities involving Japanese companies; and jointly pursue investment banking, capital markets and financing opportunities by leveraging both companies' respective strengths initially in the U.S. Healthcare sector. SMBC will also provide financing to Jefferies Finance LLC, the leveraged finance underwriting affiliate of Jefferies in

For further details see:

Jefferies Financial Group, SMBC forms strategic alliance to drive growth