Orix Corp. has agreed to buy a stake in Hyundai Merchant Marine Co.'s logistics unit and may announce a deal as soon as Thursday, sources said.

The Tokyo-based finance and leasing company and a South Korean partner will buy a majority stake in the unit Hyundai Logistics Co., said one source, who asked not to be identified discussing private information.

The board of Hyundai Merchant, South Korea's No. 2 shipping company, met Wednesday to approve the sale, a second source said.