updated 9/23/2008 9:56:39 AM ET 2008-09-23T13:56:39

Japan's largest brokerage, Nomura Holdings Inc., says it is buying the European and Middle Eastern operations of the failed U.S. investment bank Lehman Brothers.

The deal announced Tuesday is a major step in the liquidation of what was once the fourth-largest investment bank in the U.S.

It comes a day after Nomura's announcement it was buying Lehman's Asian businesses for $225 million. A British bank, Barclays, has acquired Lehman's North American investment banking operations.

Nomura did not give a price tag for the acquisition of Lehman's European and Middle Eastern operations.

Lehman's parent company, Lehman Brothers Holdings Inc., sought bankruptcy protection eight days ago in the biggest Chapter 11 filing in U.S. history.

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