Bloomberg News

Goldman Advises Sumitomo Mitsui, Mizuho on $3 Billion Deals

September 30, 2011

(Updates with M&A advisory ranking in the last paragraph.)

Sept. 30 (Bloomberg) -- Goldman Sachs Group Inc. advised Sumitomo Mitsui Financial Group Inc. and Mizuho Financial Group Inc. on acquisitions totaling $3.2 billion, statements from the two Japanese banks showed today.

The New York-based firm advised Sumitomo Mitsui on its plan to increase its stake in Promise Co., a Japanese consumer lender, by purchasing shares for about 200 billion yen ($2.6 billion), the Japanese bank said.

Goldman Sachs also advised Mizuho on its purchase of a 15 percent stake in Joint-Stock Commercial Bank for Foreign Trade of Vietnam, also known as Vietcombank, for about $570 million, Tokyo-based Mizuho said.

Goldman Sachs is the No. 1 adviser on mergers and acquisitions in Japan for the nine months ended Sept. 30, followed by Nomura Holdings Inc., according to data compiled by Bloomberg.

--Editors: Russell Ward, Brian Fowler

To contact the reporter on this story: Takahiko Hyuga in Tokyo at thyuga@bloomberg.net

To contact the editor responsible for this stor Chitra Somayaji at csomayaji@bloomberg.net


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