Nomura Holdings Inc. said Tuesday it is teaming up with others to buy a controlling stake in Pakistan's Saudi Pak Commercial Bank Ltd. for about $163 million.
Nomura will team up with BankMuscat, the largest bank in Oman, and the World Bank Group's International Finance Corp. to acquire 68 percent of Saudi Pak, said Michiyori Fujiwara, a Tokyo-based spokesman at Nomura. The brokerage will invest as much as $30 million, he said.
"Nomura is seeking to raise revenue in emerging markets in Asia," Fujiwara said. "The area is a hub that connects Asia to the Middle East."