Rabobank Asset-Management Unit Sold For $2.6bn

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Japan’s Orix Corp. has agreed to buy Rabobank Groep’s asset-management unit for $2.6bn in its largest-ever acquisition.

Bloomberg reports that the company will purchase a 90% stake in Robeco Groep NV, while Rabobank will continue to hold 10 percent of the unit, the Tokyo-based company said in a statement filed to the Tokyo Stock Exchange Tuesday.

Rabobank will receive as much as $200m of Orix shares as part of the payment, according to the statement.

Orix, which operates leasing and insurance businesses and manages Japan’s Buffaloes baseball team, is buying financial-services assets worldwide to boost capital and expand in faster-growing markets abroad. Rabobank, the biggest Dutch savings bank and mortgage lender, is shedding units to help strengthen its finances amid slowing asset growth and competition for deposits.

Hit the link below to access the complete Bloomberg article:

Orix to Buy Rabobank Asset-Management Unit for $2.6 Billion

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