Japanese finance specialist moves to buy Robeco

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 cu…