Japanese financial services company Orix acquires Robeco from owner Rabobank for 1.9 billion euros
Japan's financial services company Orix Corp has announced its purchase of prominent independent Dutch asset manager Robeco from its owner Rabobank, a multinational financial services provider, for 2.58 billion dollars or 1.9 billion euros in a cash and stock deal.
The acquisition has been the biggest move taken by Orix, which also offers life insurance, venture capital, retail banking, lending, rentals, securities brokering, real estate financing and developing as well as a team of professional baseball players.
Early in 2009, Orix management reduced the number of its employers by 10 percent as a result of global economic recession.
The company was the largest leasing company in Japan, having expanded to 24 countries.