JIC Capital backs Japan's Hitachi Astemo
JIC Capital, the private equity unit of Japan Investment Corporation (JIC), has agreed to take a 20% stake in automotive components manufacturer Hitachi Astemo as part of a restructuring that will see Hitachi cede majority ownership.
Hitachi currently owns 66.6% of Hitachi Astemo, and Honda Motor has the remaining 33.4%. A share transfer has been agreed upon that will leave them with 40% apiece, with JIC Capital holding the balance....
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