Daiwa Securities to form M&A joint venture with Thailand's 9 Basil
BANGKOK, NNA - Japanese brokerage Daiwa Securities Group Inc. will form a joint venture with investment manager 9 Basil Co. to promote mergers and acquisitions in Thailand.
Daiwa Securities said Wednesday its wholly owned subsidiary, Daiwa Capital Markets Singapore Ltd., and Bangkok-based 9 Basil have signed an agreement to start M&A advisory services through the new venture, DC Advisory (Thailand) Co., due to be founded on Monday.
Daiwa Capital Markets Singapore and 9 Basil will have a 49 percent stake each in the new firm with the rest to be held by individual shareholders.
Daiwa Securities engages in the M&A advisory business globally through the DC Advisory brand. It sees 9 Basil as a perfect partner due to its strong customer base in Thailand, a Daiwa Securities spokesman in Tokyo said.
The latest deal followed an exchange of a memorandum of understanding between Daiwa Securities and Aura Capital Thai Co., 9 Basil's predecessor, on a business alliance in the investment banking field in December 2018. (NNA/Kyodo)