- Region: Asia
- Manufacturing and Services
- Overseas Investment Loans
December 28, 2012
- The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed today a loan agreement with ORIX Corporation (ORIX) for parts of the funds to acquire one hundred percent ownership of ORIX AUTO INFRASTRUCTURE SERVICES LIMITED (OAIS), an Indian company engaging in auto leasing, car rental and other auto-related services in India.
- ORIX established OAIS as a joint venture with its Indian partner company in 1995, and since then, OAIS has engaged in auto leasing, car rental and other auto-related services. The acquisition of its total shares changes the status of OAIS from an equity-method affiliate to a wholly owned subsidiary of ORIX. Accordingly, ORIX intends to obtain its commercial license and business network, thereby further strengthening its own business base in the growing Indian market.
- With this acquisition, ORIX intends to further expand its leasing business in the Indian market, which is foreseen to grow in the coming years. The loan will thus support overseas business deployment of ORIX.
- JBIC will continue to provide long-term foreign currency-based funds for overseas M&A activities of Japanese companies and support their overseas business deployment, by drawing on its various financial facilities and schemes.