TOKYO and NEW YORK, Dec. 19 /PRNewswire/ -- Nomura Holdings, Inc. and Fortress Investment Group LLC announced today an agreement in which Nomura will acquire a 15% stake in Fortress Investment Group for approximately $888 million. Under the agreement, Nomura will own Class A shares representing 15% of Fortress with proceeds going to the Fortress principals. This transaction is expected to facilitate the expansion of Fortress's business in Asia. Skadden, Arps, Slate, Meagher & Flom LLP acted as legal adviser to Fortress. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal adviser to Nomura. Nomura Securities Co., Ltd. and Bear Stearns & Co. Inc. acted as financial adviser to Nomura. The transaction, which is subject to customary conditions, is expected to close in January 2007. About Nomura Group Nomura is a global financial services group dedicated to providing a broad range of financial services for individual, institutional, corporate and government clients. The Group offers a diverse line of competitive products and value-added financial and advisory solutions through its global headquarters in Tokyo, over 140 branches in Japan, and an international network in 29 countries; with regional headquarters in Hong Kong, London, and New York. The Group's business activities include investment consultation and brokerage services for retail investors in Japan, and, on a global basis, brokerage services, securities underwriting, investment banking advisory services, merchant banking, and asset management. For further information about Nomura please visit our website at http://www.nomura.com. About Fortress Investment Group Fortress is a global alternative asset manager with approximately $26 billion in assets under management as of September 30, 2006. Fortress raises, invests and manages private equity funds, hedge funds and publicly traded alternative investment vehicles. Fortress is headquartered in New York City and was founded in 1998.
SOURCE Fortress Investment Group LLC