Linklaters is advising Japanese financial services company Orix Corp. on its $2.16 billion acquisition of a majority stake in the asset management unit of Dutch bank Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A., or Rabobank.
Orix, best known for its leasing businesses, will purchase 90 percent of Robeco Groep N.V., with Rabobank staying on as a minority partner. The deal is expected to close within six months.
The acquisition is part of Orix’s larger strategy to diversify its business following the global financial crisis, particularly in the area of asset management, the company said in a statement. To that end, Orix bought a majority stake in American hedge fund manager Mariner Investment Group in 2010. The terms of the deal were not disclosed.
The Linklaters team was led by Tokyo partner Hiroya Yamazaki, as well as Amsterdam partner Pieter Riemer and London partner David Holdsworth.
Dutch firm De Brauw Blackstone Westbroek represented Rabobank on the deal, with Amsterdam partners Arne Grimme, Gaby Smeenk, and Bernard Spoor serving as lead advisers.