Virbac SA acquired Sasaea Holdings Co., Ltd. from ORIX Corporation.
April 31, 2024
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Virbac SA (ENXTPA:VIRP) entered into a definitive agreement to acquire Sasaea Holdings Co., Ltd. from ORIX Corporation (TSE:8591) for an enterprise value of approximately ?280 million on March 6, 2024. The annual revenues of Sasaea Holdings Co., Ltd. were about ?75 million. The transaction is expected to close by the beginning of April 2024. Nomura acted as financial advisor to Virbac in this transaction and Hogan Lovells acted as its legal advisor. BofA acted as financial advisor for ORIX.
Virbac SA (ENXTPA:VIRP) completed the acquisition of Sasaea Holdings Co., Ltd. from ORIX Corporation (TSE:8591) on April 1, 2024.
ORIX Corporation is a financial services group organized around 9 business divisions:
- life insurance (19.3% of net sales);
- corporate financial services (17.6%): leasing and rental of automobiles, IT-related and technological equipment;
- development, management and promotion of real estate assets (15.5%);
- private equity investment (15.3%);
- asset and investment fund management in Europe (8.8%);
- capital markets and investment banking in the United States (6.4%);
- finance and investment banking in Asia and Australia (5.9%);
- retail banking and consumer finance (3.4%);
- aircraft and ship leasing and financing (1.5%).
The balance of net sales (6.3%) relates to energy and environmental activities (renewable energy production, electricity distribution, sale of solar panels and electricity storage systems, recycling and waste management).