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Wednesday, 29 August 2012 - KKR to invest $1.27 billion in Japan's Renesas: Nikkei |
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See the best of Reuters photography.  See more | Photo caption  Republican women Sarah Palin, Condoleezza Rice and Michelle Bachmann are some of the prominent GOP women supporters.  Slideshow  Hurricane Katrina A look back at the tragedy that was Hurricane Katrina.  Slideshow  KKR to invest $1.27 billion in Japan's Renesas: Nikkei Tweet Share this Email Print Related News Company town at the Sharp end of Japan's decline 12:47am EDT Hon Hai's Gou aims to reach Sharp deal this week Mon, Aug 27 2012 Elpida says it submitted Micron restructuring plan Tue, Aug 21 2012 UPDATE 4-Sharp jumps on revamp plan reports Fri, Aug 17 2012 Nikkei expected to gain as soft yen props up exporters Wed, Aug 15 2012 Analysis & Opinion Japan Inc’s earnings tell worrisome global story The problem of Japan’s household savings Related Topics Tech » Tue Aug 28, 2012 2:52pm EDT (Reuters) - U.S. private equity giant KKR & Co LP plans to invest 100 billion yen ($1.27 billion) in struggling Japanese chipmaker Renesas Electronics Corp by next month, the Nikkei reported. KKR will buy new shares of Renesas - the world's fifth-largest chipmaker - through a private placement, the business daily said. The investment fund has put forth a proposal to Renesas' main banks and its top three shareholders - NEC Corp, Hitachi Ltd and Mitsubishi Electric Corp, the paper said. Hitachi, Mitsubishi Electric and NEC, which together own 90 percent of Renesas, agreed on Tuesday to provide 49.5 billion yen in financial support, while banks have promised an additional 50 billion-yen loan. Renesas earlier this month forecast a record annual net loss of 150 billion yen as it fights for survival in the face of sinking prices and aggressive overseas rivals. ($1 = 78.5000 Japanese yen) (Reporting by Mridhula Raghavan in Bangalore; Editing by Maju Samuel) Tech Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints   We welcome comments that advance the story through relevant opinion, anecdotes, links and data. 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