ORIX Joins Forces with US Investment Bank.Tokyo, Japan, Oct 31, 2005 - (JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) Newswire) - ORIX Corporation (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : 8591; NYSE NYSE See: New York Stock Exchange : IX), a leading integrated financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. group, today announced that its board of directors has approved an agreement to establish and become the majority shareholder of a holding company that will own the business of Houlihan Lokey Howard & Zukin, Inc. (Houlihan Lokey), an international investment bank, and the assets and operations of the Corporate Finance Group of ORIX's wholly-owned subsidiary ORIX USA Corporation. The two companies joined forces after confirming the opportunities to leverage each other's strengths to grow ORIX USA's corporate finance activities and expand the investment banking business of Houlihan Lokey, both in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and internationally. Yoshihiko Miyauchi, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of ORIX, said, "This combination marks one more milestone in our dynamic evolution in financial services and highlights our long-term strategy of expanding our operations in the United States. We hope to both accelerate the growth in our existing operations and capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. Houlihan Lokey's expertise to pursue investment banking opportunities in the US and other parts of the world." Commenting on the transaction, Jeffrey Werbalowsky, Co-Chief Executive Officer of Houlihan Lokey said, "We are excited to leverage the impressive international infrastructure of ORIX to expand our investment banking, financial restructuring, and valuation product lines internationally, and particularly in Asia. We look forward to now having additional financial resources and expertise to offer our clients around the world." Scott Beiser, Houlihan Lokey's other Co-Chief Executive Officer added, "In addition to accelerating the international expansion of our three advisory businesses, we will be in a unique position to grow the business of the Corporate Finance Group by extending a variety of financing alternatives to US businesses." A new holding company will be established to own the two entities; it will initially have over $500 million in equity and total assets of approximately $2.5 billion. ORIX USA will own approximately 70% of the new holding company, with Houlihan Lokey's current shareholders owning the remaining 30% share. The two businesses in the new entity will continue to operate independently under their respective brand names: Houlihan Lokey Howard & Zukin for the investment banking business and the ORIX USA Corporate Finance Group for the corporate finance business. The combined enterprise will have approximately 800 employees and operate from 10 locations in the United States and Europe when it expects to begin operations in the first quarter of 2006. About ORIX USA Corporation and the Corporate Finance Group ORIX USA Corporation is a diversified commercial financial services company. The Corporate Finance business of ORIX USA provides senior secured, unsecured, mezzanine, equipment leasing and structured loan credit products to companies throughout the United States and Canada. ORIX USA is headquartered in Dallas, Texas, with over 500 employees and principal offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Chicago and Atlanta with representatives in locations spanning the US. For more information, please visit OUC's website at: www.orix.com. About Houlihan Lokey Howard & Zukin Houlihan Lokey Howard & Zukin, an international investment bank established in 1970, provides a wide range of services, including mergers and acquisitions, financing, financial opinions and advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal , and financial restructuring. Houlihan Lokey has ranked among the top 20 M&A advisors in the U.S. for the past 13 years, has been the No. 1 provider of M&A fairness opinions for the past five years, and has one of the largest financial restructuring practices of any investment bank in the world.* The firm has over 700 employees in ten offices in the United States and Europe. It annually serves more than 1,000 clients ranging from closely held companies Closely held company A company who has a small group of controlling shareholders. In contrast, a widely-held firm has many shareholders. It is difficult or impossible to wage a proxy battle for any closely-held firm. to Global 500 corporations. For more information, please visit Houlihan Lokey's Web site at www.hlhz.com. *Sources: Thomson Financial Thomson Financial A major provider of information, analytical tools, and consulting services to the financial community. The firm, a division of Thomson Corporation, is best known to investors for its First Call segment, which publishes consensus earnings Securities Data, Mergers & Acquisitions Journal, The Deal. Copyright [c] 2005 JCN Newswire. All rights reserved. A division of Japan Corporate News Network K.K. |
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