Jefferies Deepens Ties With Japan’s Sumitomo Mitsui

Wall Street’s Jefferies Financial Group and Japan’s Sumitomo Mitsui Financial Group are bolstering their ties in a push to court more companies and private-equity firms globally with their services on mergers and acquisitions, borrowing and investing money, and other work. SMFG’s commercial banking subsidiary, SMBC, has agreed to increase its equity ownership in Jefferies to up to 20% in the open market, from about 15%, executives told The Wall Street Journal. It also has agreed to provide Jefferies roughly $2.5 billion in new credit facilities to aid in the two firms’ efforts.

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