Orix to Buy Spanish Energy Firm Elawan for About $965 Million

Orix to Buy Spanish Energy Firm Elawan for About $965 Million
Bloomberg
12/28/2020
Taiga Uranaka and Takako Taniguchi
© Bloomberg
Power transmission lines are suspended from electricity pylons in Galapagar, Spain, on Monday, Sept. 20, 2010.
(Bloomberg) -- 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.
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Tokyo-based Orix is purchasing an 80% stake from Elawan’s management and Spanish industrial company Acek, company spokeswoman Yuka Kanaoka said Monday. With an additional capital injection later, the deal is worth about 100 billion yen ($965 million), she said.
The transaction is expected to close in the second quarter of 2021, subject to receipt of regulatory approvals and satisfaction of customary closing conditions, Orix said in a statement.

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