Japanese financial services group Orix Corporation has moved to acquire 90% of the equity in Robeco from Rabobank for 1.9 billion $2.5 billion, and says it will continue to expand.
Subject to legal and regulatory approvals, the deal is expected to be completed within six months. It is valued at an estimated six-seven times Ebitda, which is understood to be lower than many of the competitor deals it examined.
Orix stresses that Robeco’s management board will remain in their current roles, with Roderick Munsters continuing as CEO and now reporting to Orix headquarters in Tokyo. It says it wants to retain as many of Robeco's estimated...
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