According to Japan's Nikkei newspaper,the New York private equity company KKR will have a controlling stake in Renesas before the end of the year.
KKR is reportedly offering$1.3bn for a controlling stake in the company whose market cap is about$1.7bn.
Before Renesas was bailed out by its bankers a couple of months ago,KKR had offered$600m for a stake in nthe company.
Renesas has 46,000 employees and made a loss of$800m last year.However it has revenues of$10bn which makes it a tempting prospect for the kind of radical re-structuring(i.e.mass sackings)at which which private equity firms excel.
Source:
http://www.electronicsweekly.com/Articles/2012/08/30/54443/kkr-in-new-talks-for-renesas.htm
