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Orix considers acquisition of Rabobank asset management unit

Japan’s Orix Corp, a financial services company, is negotiating with Dutch cooperative lender Rabobank to purchase its asset management business Robeco in a deal estimated to be approximately $2.6bn.

Confirming the development, the company said in a statement, "While ORIX is considering such an acquisition, no decision has been reached at this juncture."

No further terms of the deal have been revealed by the concerned parties, although it is expected that the deal will be finalized soon.

The Japanese firm may pay the purchase price in cash and its own stock, and Rabobank is expected to get nearly 2% of the firm’s shares.

The potential deal, if finalized, will see the Dutch bank retaining approximately 10% shareholding in its asset management business, and there will be no transition in management of the acquired entity.

Goldman Sachs Group offered advices to Orix, while JP Morgan and Barclays acted as an adviser for Robeco and Rabobank, respectively, pertaining to the deal.

Trading in 28 nations and territories globally, ORIX is a diversified financial services group, which delivers corporate financial services including leases and loans, life insurance, banking and loan servicing, among others.