News Release
Announcement Regarding the Transfer of Oman ORIX Leasing Company SAOG Shares
Mar 22, 2018
TOKYO, Japan - March 22, 2018- ORIX Corporation (“ORIX”) announced today that it has transferred all the shares that the ORIX Group owned in the Oman ORIX Leasing Company SAOG (“OOLC”), which is incorporated in the Sultanate of Oman.
1. Method of transfer
The transfer has taken place by means of a merger of OOLC with National Finance Company SAOG (“NFC”), a finance company that is listed in the Sultanate of Oman, and ORIX will receive cash in consideration for its shares.
2. Purpose of the transfer
ORIX has promoted the leasing business in the Sultanate of Oman since OOLC was incorporated jointly with local partner in 1994. Having received an offer for purchase from NFC, which is part of the Zubair Corporation Group, a powerful enterprise in the Sultanate of Oman that owns automotive and other businesses, ORIX determined that the purchase would contribute to the further expansion of OOLC business, and decided to go through with this transfer.
3. Schedule of transfer
Effective date of merger: March 20, 2018
4. Transfer price
Approximately 6 million Oman rials (approximately 1.7 billion yen, amount of only shares owned by ORIX)
Name | Oman ORIX Leasing Company SAOG |
---|---|
Head office location | Muscat, Sultanate of Oman |
Representative | Shahin Mohammed Al Balushi |
Business activities | General leasing |
Major shareholders | Oman International Development and Investment Company SAOG (35.0%) Majid Al Futtaim Trust LLC (27.8%) ORIX Corporation (12.3%) ORIX Leasing Pakistan Limited (11.6%) |
and shareholder ratio (10% or more) | Muscat Securities Market |
Contact Information:
ORIX Corporation
Corporate Planning Department
Tel: +81-3-3435-3121
About ORIX:
ORIX Corporation (TSE: 8591; NYSE: IX) is an opportunistic, diversified, innovation-driven global powerhouse with a proven track record of profitability. Established in 1964, ORIX at present operates a diverse portfolio of businesses in the operations, financial services, and investment spaces. ORIX's highly complementary business activities span industries including: energy, private equity, infrastructure, automotive, ship and aircraft, real estate and retail financial services. ORIX has also spread its business globally by establishing locations in a total of 40 countries and regions across the world. Through its business activities, ORIX has long been committed to corporate citizenship and environmental sustainability. For more details, please visit our website: http://www.orix.co.jp/grp/en/
Caution Concerning Forward Looking Statements:
These documents may contain forward-looking statements about expected future events and financial results that involve risks and uncertainties. Such statements are based on our current expectations and are subject to uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Factors that could cause such a difference include, but are not limited to, those described under "Risk Factors" in the Company's annual report on Form 20-F filed with the United States Securities and Exchange Commission and under "(4). Risk Factors" of the "Summary of Consolidated Financial Results" of the "Consolidated Financial Results April 1, 2016 - March 31, 2017."
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