February 19, 2013

Japan's Orix Buys 90.1% of Robeco


Orix Corp. (8591) has agreed to buy approx. 90.1% of Netherlands asset manager Robeco from Rabobank for EUR1.935 billion (JPY 241 billion). This is the largest acquisition ever by Orix, Japan's biggest financial services and leasing company. Orix will allocate EUR 150 million treasury stocks to Rabobank as part of the acquisition price, and as a result Rabobank becomes a shareholder of Orix.

Rabobank will retain the remaining 9.99% stake in Robeco and will continue "to cooperate in maintaining and expanding Robeco’s business platform", according to the press release.

Robeco was founded in 1929. It had EUR189 billion in assets under management at the end of last year, a 26% increase from 2011.  The asset management firm has about 1,507 employees and has strong customer bases in Europe and the U.S. Traditional and alternative products of Robeco and its subsidiaries, SAM and TransTrend, have been invested by Japanese institutional investors and retail investors via major local securities firms.

Orix, which listed on the New York Stock Exchange in 1998 and which is more than 50% foreign-held, also operates in investment banking, life insurance, venture capital and in the financing of real-estate development.

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