Skadden Arps gets Nomura mandate in Lehman Asia buy

<a class=Skadden Arps gets Nomura mandate in Lehman Asia buy” />Skadden Arps Slate Meagher & Flom has advised Japanese bank Nomura on its winning auction bid for Lehman Brothers’ Asian operations.

Linklaters‘ Hong Kong office advised the provisional liquidator to the Lehman Hong Kong operation, KPMG.

Nomura’s purchase was led by Skadden’s corporate co-head and Hong Kong partner Nicholas Norris. He was assisted out of London by restructuring partner Lynn Hiestand and corporate partner John Adebiyi.

Linklaters’ KPMG team was led by Hong Kong head of corporate Keith Johnson.

Nomura is understood to have beaten Samsung, Barclays and Standard Chartered Bank to Lehman’s Asian assets.

Linklaters also acts for UK administrators PricewaterhouseCoopers, and the magic circle firm has so far bagged the majority of global administration instructions for Lehman outside of New York (see story).

In New York, Weil Gotshal is handling Lehman’s Chapter 11 insolvency.

Both firms declined to comment.

Reuters reports that Lehman will pay up to $525m (£282m) for the assets.

For a full round-up of which firms are acting for which clients in the Lehman and HBOS deal, see this week’s Lehman HBOS features.