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Casa > Notizie > Industry News > INCJ to sell 20% stake in Rene.....

INCJ to sell 20% stake in Renesas

  • Autore:Ella Cai
  • Rilasciare il:2017-04-27
The Innovation Network Company of Japan (INCJ), a government bail-out fund for troubled companies, is to sell a 20% stake in Renesas.

INCJ currently holds 69% of Renesas after bailing out the company in 2013. At that time the company had cumulative losses of some $6 billion over the previous seven years.

INCJ bought its stake for $1.86 billion. About a dozen other Japanese companies also invested around $610 million in the bail-out.

The New York private equity company KKR tried to buy Renesas but was thwarted by the INCJ deal.

INCJ is now partnering with KKR in a bail-out bid for Toshiba.

Renesas is now in good shape having bought Intersil for $3.2 billion in February.