Sumitomo Mitsui launches turnaround fund
Sumitomo Mitsui Banking Corp. will launch a JPY 30 billion ($332 million) corporate turnaround fund to help the bank’s SMEs clients to turn around struggling businesses.
The fund reportedly plans to acquire up to 20% of target domestic companies with annual sales between JPY10-100 billion ($110 milllion-$1.1 billion). The investment range for single deals would be from...
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