(Adds Orix, Net Japan comments, Net Japan company details)
* Deal values Net Japan at over 30 bln yen -sources
* Orix purchase is part of private equity investment
* Net Japan had booked revenue of Y200 bln last year
HONG KONG/TOKYO, April 22 Japanese financial
services company Orix Corp will buy precious metal,
diamond and jewellery recycler Net Japan Co from Baring Private
Equity Asia for around 21 billion yen ($204.74 million), people
with knowledge of the matter said on Tuesday.
An Orix spokesman confirmed the agreement but declined to
comment on terms. Baring, in a statement, said it was selling
the company to Orix, but did not disclose the value.
Orix has agreed to buy all of Net Japan as part of the
company's private equity investment activity, the spokesman
said. Net Japan, he said, met Orix's criteria of being a top
player in a niche market.
Last year, Orix spent about $2.6 billion on Dutch asset
Tokyo-based Net Japan has 11 domestic branches as well as
operations in mainland China, Hong Kong and Taiwan, showed the
company's website. Last year it booked revenue of about 200
billion yen from buying scrap precious metal and used jewellery
and selling them on to smelters and others.
Orix's purchase would value Net Japan at over 30 billion
yen, said one of the people, who declined to be identified as
details of the deal were private.
Net Japan declined to comment.
Baring Private Equity Asia, which has total committed
capital of over $5 billion, invested in Net Japan in 2012.
($1 = 102.5700 Japanese Yen)
(Reporting by Stephen Aldred and Taiga Uranaka; Editing by