Japan's Daiwa and ANZ form tie in M&A advisory business

TOKYO Tue Feb 25, 2014 1:44am EST

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TOKYO Feb 25 (Reuters) - Japanese brokerage Daiwa Securities Group Inc said on Tuesday it had agreed in principle to an alliance with Australia and New Zealand Banking Group Ltd in the business of advising on mergers and acquisitions.

Daiwa, Japan's second-largest investment bank, said in a release that the tie-up would open the door for getting work advising on mergers and acquisitions involving Japanese and Australian and New Zealand companies.

There was no investment announced as part of the deal.

(Reporting by Nathan Layne; Editing by Dominic Lau)

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