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ORIX Credit is a provider of financial services, while ORIX is a financial services group offering leasing, corporate finance, real estate-related finance and development, life insurance, investments, and retail banking services.
Announcement (May 7, 2009):
SMBC and ORIX have reached an agreement on a joint business development of ORIX Credit. Under the agreement, SMBC will acquire a 51% stake in ORIX Credit.
Rumor (April 29, 2009):
According to Bloomberg, NHK Television reported that SMBC is in final discussions to acquire a 51% stake in ORIX Credit from ORIX for a consideration of JPY30,000 million ($310 million).
UBS Investment Bank is acting as financial advisor to ORIX.
Deal Type Acquisition Sub-Category Majority Acquisition Deal Status Completed: 2009-07-01
Deal Participants
Target (Company) ORIX Credit Corporation Acquirer (Company) Sumitomo Mitsui Financial Group, Inc. Vendor (Company) ORIX Corporation
% Acquisition 51%
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