Japan’s SMBC raises stake in Jefferies to about 20%

(Reuters) – Japan’s Sumitomo Mitsui Banking Corp increased its equity ownership in U.S. investment bank Jefferies to about 20%, the companies said in a statement on Friday.

Sumitomo Mitsui will provide Jefferies about $2.5 billion in new credit facilities, the statement added.

(Reporting by Gnaneshwar Rajan in Bengaluru)