Global law firm Ashurst is advising Jefferies Financial Group, Inc. ("Jefferies") on the expansion of its Global Strategic Alliance with Sumitomo Mitsui Financial Group, Inc., Sumitomo Mitsui Banking Corporation ("SMBC"), and SMBC Nikko Securities Inc., collectively the SMBC Group.
This will include combining their Japanese equities and ECM businesses, expanding joint coverage of larger sponsors and implementing in EMEA joint origination, underwriting and execution of syndicated leveraged loans for these clients. As part of this expansion, SMBC intends to increase its equity ownership in Jefferies to up to 20% in the open market. The transactions are subject to relevant regulatory approvals being obtained.
The Ashurst cross border multidisciplinary team is being led by corporate partner Rob Aird, financial regulatory partner Jake Green and competition partner Steven Vaz. The wider team comprises financial regulatory partner Detmar Loff, senior associate Vidhi Mahajan and associate Penny Chamberlain, corporate senior associate Jasmin O'Reilly and competition counsel Peter Turner-Kerr and senior associate Adam Kidane. Partners Andreas Mauroschat and Crowley Woodford and counsel Liz Parkin are advising on employment matters.
