Daiwa buys KBC's Asian equity derivatives and global convertible bonds operations

Dominique Blanchard, Daiwa Capital Markets

Daiwa Capital Markets, the investment banking arm of Japan’s Daiwa Securities Group, is acquiring KBC Group’s global convertible bonds and Asian equity derivatives business for around $1 billion. The acquisition is in line with the Japanese dealer’s strategy to build a derivatives business centered on Asia, which it embarked upon in 2008. The deal is subject to regulatory approval, with completion expected in the third quarter.

The convertible bonds and Asian equity derivatives businesses will si

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