<p>The two companies stated that Japan's second-largest bank, Sumitomo Mitsui Financial, will increase its stake in the American investment bank Jefferies from the current 15% to about 20%, but its voting rights will remain below 5%. Sumitomo Mitsui Financial plans to pay 135 billion yen (USD 912 million) for the increased shares. Sumitomo Mitsui Financial will provide Jefferies with approximately USD 2.5 billion in new credit lines to collaborate in areas such as structured financing in Europe and the United States. The two companies also agreed to establish a joint venture in Japan to conduct equity research, sales, trading, and equity capital market business</p>

SMFG

<p>The two companies stated that Japan's second-largest bank, Sumitomo Mitsui Financial, will increase its stake in the American investment bank Jefferies from the current 15% to approximately 20%, but its voting rights will remain below 5%. Sumitomo Mitsui Financial plans to pay 135 billion yen (USD 912 million) for the increased shares. Sumitomo Mitsui Financial will provide Jefferies with approximately USD 2.5 billion in new credit lines for cooperation in areas such as structured financing in Europe and the United States. The two companies also agreed to establish a joint venture in Japan to conduct equity research, sales, trading, and equity capital market business</p>

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