U.S. private equity fund KKR plans to invest around 100 billion yen (US$1.27 billion) in Japanese chipmaker Renesas.
The U.S. investor will buy new shares from Renesas through a private placement, Reuters reported on Wednesday, citing sources familiar with the matter. KKR presented the plan to Renesas' main banks and its three major shareholders NEC, Hitachi and Mitsubishi Electric on Tuesday, one of the sources said.
Renesas told the newswire no official statement had been made by the company while KKR declined to comment.
The struggling Japanese chipmaker in July announced plans to, as it aims to reduce losses following declining sales figure. Renesas also in May to broaden business continuity plans.
Media reports in July also speculated TSMC and Renesas were in talks of a possible deal for the Taiwanese chip manufacturer to acquire a wafer plant in northeastern Japan along with 1,400 employees, but.