KKR In Talks to Invest $1.3B in Renesas Electronics

Private equity firm KKR is in talks to invest about 100 billion yen ($1.3 billion) for control of Japan’s Renesas Electronics Corp., sources said on Wednesday, offering a lifeline to the struggling chipmaker and pushing its shares up 35%, Reuters reported Wednesday The deal would give KKR more than 50% of cash-strapped Renesas, and could speed the pace of its current restructuring as it fights for survival in the face of sinking prices and aggressive overseas rivals.

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