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Japan Investment Corp gets approval to boost investment framework -govt source

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Japan Investment Corp gets approval to boost investment framework -govt source
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TOKYO : State-backed Japan Investment Corp (JIC) has received approval to expand its investment framework to 900 billion yen ($6.11 billion) from 200 billion yen, a government source said on Wednesday.JIC heads a consortium that has been preparing a bid to buy out Toshiba Corp.The preferred bidder

TOKYO : State-backed Japan Investment Corp has received approval to expand its investment framework to 900 billion yen from 200 billion yen, a government source said on Wednesday.

The preferred bidder is private equity firm Japan Industrial Partners , but two sources familiar with the matter said last month that it is having difficulty securing sufficient equity commitments from potential consortium partners.

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