Orix to Buy Spanish Energy Firm Elawan for About $965 Million
The Orix Corp. stand during the 3rd China International Import Expo (CIIE) in Shanghai, China.
Photographer: Hou Yu/China News Service via Getty Images
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Orix Corp. agreed to buy Spain’s Elawan Energy, the Japanese financial conglomerate’s first deal to acquire a majority stake in an overseas renewable power company, people with knowledge of the matter said.
Tokyo-based Orix is purchasing an 80% stake in Elawan from its management and Spanish industrial company Acek, said the people, who asked not to be identified before an announcement. With an additional capital injection later, the deal is worth about 100 billion yen ($965 million), the people said.