Orix to Sell $1.3 Billion Stake in Greenko to Founders (3)

Orix Corp. will sell most of its stake in Greenko Energy Holdings back to the Indian clean energy producer’s founders for $1.28 billion.

Tokyo-based Orix agreed to transfer a 17.5% holding in Greenko, out of its total ownership of 20%, to AM Green Power BV, which was established by the founders of Greenko, according to a statement on Monday. Orix will also invest about $731 million in a convertible note issued by parent company AM Green (Luxembourg) Sarl.

Orix shares gained 2.6% in Tokyo on Monday, their biggest jump since April 10.

AM Green aims to produce 5 million tons ...