Renesas shares spike on report of KKR investment
Shares in Japan’s Renesas Electronics Corp. have soared to their highest level in almost three months after it was reported that KKR will invest JPY100 billion ($1.3 billion) in the company.
The private equity firm is mooted to be buying enough new shares in the unprofitable Tokyo-listed chipmaker to become a majority stakeholder through a private placement by the end of 2012. The company's...
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