No issues with Chinese antitrust regulator over JSR buyout: JIC Chief
Yokoo indicated optimism, projecting the completion of the transaction by the end of the current fiscal year in March.
The Chief Executive of Japan Investment Corp (JIC), Keisuke Yokoo, stated on Wednesday that the organisation foresees no specific challenges with China's antitrust authority regarding its proposed acquisition of JSR Corp, valued at $6.4 billion.
Yokoo confirmed that the commencement of JIC's tender offer for JSR has been postponed from the previously anticipated late December timeframe to a later date in February, attributing the delay to pending Chinese regulatory scrutiny.
Addressing concerns, Yokoo stated, "We do not anticipate encountering any particular obstacles with the Chinese regulatory body." He further indicated optimism, projecting the completion of the transaction by the end of the current fiscal year in March.
Additionally, Yokoo outlined JIC's strategic intentions, revealing plans to eventually introduce both JSR and Shinko Electric Industries — the chip-packaging arm of Fujitsu targeted for a 684.9 billion yen ($4.77 billion) acquisition by JIC — to public markets within a decade-long investment timeframe.
(With Reuters inputs)
Published By : Anirudh Trivedi
Published On: 20 December 2023 at 11:56 IST