ORIX (TYO:8591) has re-entered into a share transfer agreement to sell 17.5% of its 20% holdings in Greenko Energy Holdings to AM Green Power, a subsidiary of AM Green, at an undisclosed value.
Additionally, ORIX will invest in a convertible note issued by AM Green (Luxembourg), according to its Tokyo bourse filing on Monday.
This re-entry follows the termination of a similar agreement in April due to unfulfilled conditions, but subsequent reconsideration led to its revival.
The transaction, which includes regulatory approvals, is expected to finalize by the end of July.
ORIX's move is part of its capital recycling strategy, aiming to re-invest in the rapidly growing next-generation energy sector, including green molecules, as the world moves towards decarbonization.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.