De Brauw Blackstone Westbroek has advised Rabobank on the divestment of Robeco to ORIX, the Japanese financial services group. ORIX will acquire 90.01% of the equity in Robeco from Rabobank, for EUR 1,935 million. Part of the consideration will be paid in ORIX shares. Closing of the transaction is amongst others subject to merger clearance and regulatory approvals, which are expected to be completed within six months.
Rabobank will retain a 9.99% share in Robeco. Also, ORIX and Rabobank have agreed that Robeco's banking activities, based only in the Netherlands, will be transferred to Rabobank.
Rabobank decided to sell Robeco to ORIX since this will enhance Robeco's future growth prospects. Robeco is ORIX's most significant strategic acquisition to date in this area and Robeco will become ORIX's primary platform for future growth ambitions in global asset management. Robeco will continue to service customers under its existing brand names.
Arne Grimme, M&A partner at De Brauw Blackstone Westbroek: "We are proud of having advised Rabobank on selling Robeco. Rabobank is a very important client to our firm. We focus on delivering top quality service and legal expertise to Rabobank in all high-end matters, including recent large transactions such as the acquisition of Friesland Bank and this sale of Robeco to ORIX".
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