CORRECTED-Japan's Nomura to buy stake in American Century for $1 bln

Mon Dec 21, 2015 9:38am EST
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(Corrects Reuters Instrument Code to from in the first paragraph)

Dec 21 (Reuters) - Nomura Holdings Inc, Japan's biggest brokerage, said it would buy a 41 percent stake in privately held investment management firm American Century Investments for about $1 billion from Canadian Imperial Bank of Commerce.

The transaction is expected to close in the first half of 2016.

The news was first reported by Bloomberg earlier on Monday. (Reporting by Sruthi Shankar in Bengaluru; Editing by Shounak Dasgupta)