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Orix to buy Dutch asset manager

JIJI

Major leasing firm Orix Corp. is in the final stages of talks to acquire Robeco, an asset management arm of Rabobank of the Netherlands, sources said Friday.

According to the sources, the deal would be worth more than ¥200 billion. Orix aims to buy most of Robeco shares from the major Dutch bank. A basic agreement could be reached as early as next week.

Orix, which offers financial services such as real estate investment on top of leasing operations, hopes to boost its asset management services both in and outside Japan by taking advantage of Robeco’s business knowhow, the sources said.

Robeco, set up in Rotterdam in 1929, joined the Rabobank group in 2001. At the end of last September, the company had assets worth €188 billion (¥23.23 trillion) under its management.

Robeco has business bases in more than 10 countries, including in Europe, North America and Asia. Its main clients include pension funds.