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Japan State-Backed Fund JIC Is Said to Explore Toshiba Bid

  • JIC has signed confidential agreement for access to data
  • Some buyout firms approached JIC for potential joint bid
Updated on

State-backed investment fund Japan Investment Corp. is considering a bid for Toshiba Corp., according to people with knowledge of the matter.

JIC has signed a confidential agreement with the Japanese conglomerate for access to detailed finances as it weighs an offer, said the people, who asked not to be identified as the information is private. The state-backed fund is likely to team up with other suitors and has been approached by private equity funds pitching a joint bid, two of the people said.