Japan’s Orix Corp keen to acquire a majority stake in crisis-hit IL&FS

Orix Corporation of Japan, which owns 23.54 per cent in crisis-hit Infrastructure Leasing & Financial Services (IL&FS), is keen to acquire a majority stake in the infrastructure development and finance company.

It wants to infuse fresh capital into the company from overseas so that it can meet its financial obligations. According to a source close to the development, Orix, a global financial services player with revenues of $23.5 billion, has two representatives on the IL&FS board and is the largest shareholder in IL&FS after Life Insurance Corporation, or LIC (25.34 per …