© anthony bolan dreamstime.com Electronics Production | November 26, 2012
INCJ to invest in Renesas
A government-backed fund is preparing to buy a two-third stake in chipmaker Renesas for USD 2.2 billion as a part of a bailout, reports Reuters.
Additionally, eight manufacturers will also provide USD 242 million combined. Among these companies are Toyota Motor Corp and Nissan Motor Co Ltd, the article continues. INCJ is now putting an end to the U.S. private equity firm KKR & Co LP's ambitions of acquiring a controlling interest in the company. The reason for the bailout is said to be worries that Renesas' technology could fall into foreign hands.