Japan-based ORIX Corporation is acquiring approximately 90.01 percent of the equity in Netherlands-based Robeco from Rabobank, for 1.9 billion euros ($2.6 billion). Closing of the transaction is subject to legal and regulatory approvals, which are expected to be completed within six months.
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Japanese financial services firm Orix Corp and Australian bank Macquarie Group Ltd have emerged as leading candidates to buy the asset management arm of Dutch bank Rabobank, Robeco, writes Reuters. The Netherlands-based retail bank also received bids from a private equity consortium of Advent International and CVC Capital Partners and Boston-based asset manager AMG partnered with buyout firm Permira, Reuters previously reported.