Orix Corp said on Tuesday it has agreed to buy Netherlands' asset manager Robeco from Rabobank for about €1.94bn ($2.6bn), in what would be the largest acquisition ever by Japan's biggest financial services and leasing company.

Under the deal, Orix will pay Rabobank in cash and its own stock for a 90.01% stake of Robeco. As a result, Rabobank will hold a minority stake worth up to €150m in Orix, creating a strategic alliance. Rabobank will retain the remaining 9.99% stake in the asset management firm.