Date Closed

February 1, 2007

Lead Office

Toronto

Value

1.20 Billion USD

On February 1, 2007, Nomura Holdings Inc., the Tokyo headquartered global financial services group, completed its acquisition of Instinet Inc., the U.S. based electronic broker, for US$1.2bn (€940m). Nomura agreed to buy the business from U.S. private equity house Silver Lake Partners in November 2006, three months after the private equity house put the business up for sale and less than one year after Silver Lake acquired it for US$208m. The acquisition is part of Nomura’s ongoing strategy to strengthen its capabilities in the area of sophisticated trading technologies and execution services.

McCarthy Tétrault LLP advised Instinet, as Canadian counsel, with a team that was led by Rene Sorrell, and included Alasdair Federico.