{"id":32366,"date":"2022-11-03T13:43:31","date_gmt":"2022-11-03T05:43:31","guid":{"rendered":"http:\/\/www.gocpmall.com\/?p=32366"},"modified":"2022-11-03T13:43:31","modified_gmt":"2022-11-03T05:43:31","slug":"toshiba-suitor-jic-increases-size-of-buyout-fund-by-4-5-times-to-over-6b","status":"publish","type":"post","link":"https:\/\/www.gocpmall.com\/?p=32366","title":{"rendered":"Toshiba suitor JIC increases size of buyout fund by 4.5 times to over $6b"},"content":{"rendered":"

\"news<\/p>\n

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Japan Investment Corp (JIC), a potential bidder for Toshiba <\/span>Corp, has expanded the size of its buyout fund by 4.5 times to 900 billion yen ($6.11 billion), a spokesperson for the state-backed investment firm said on Wednesday.<\/p>\n

JIC heads a consortium that has been preparing a bid, sources have said.<\/p>\n

It faces competition from private equity firm Japan Industrial Partners (JIP), which other sources say is having difficulty securing sufficient equity commitments from potential consortium partners.<\/p>\n

JIC received approval for the fund boost from the industry ministry on Oct 27, the spokesperson said.<\/p>\n

Japan has seen more large-scale buyouts in recent years, and the expansion is designed to allow JIC’s private equity arm to handle such deals, he said.<\/p>\n

But JIC does not have specific investment targets in mind, and would not comment on individual deals, he added.<\/p>\n

JIP was granted preferred bidder status by Toshiba <\/span>in a second round of bidding last month, though the conglomerate is still open to proposals from others.<\/p>\n

JIC has been in talks with Bain Capital, one of several overseas funds that passed the first round of bidding, as well as with MBK Partners, sources have said.<\/p>\n

Reuters<\/strong><\/p>\n<\/div>\n<\/div>\n

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