private-equity-firms-rescue-japans-niws

Private equity firms rescue Japan's NIWS

Longreach Group and Phoenix Capital take over the insolvent Japanese technology company for $175 million.

Two private equity firms have come to the rescue of NIWS Co. HQ, a company specialising in tailor-made software, hardware and consulting services and listed on the Tokyo Stock Exchange.

The two investors will pump Ñ20 billion $175 million into the company, of which Ñ6.5 billion is for new common shares, and Ñ11 billion and Ñ2.5 billion is for type-A and type-B new preferred shares respectively.

With no old shares being disposed of, the transaction amounts to a major capital infusion for the company, setting the scene for a possible turnaround.

NIWS has been performing badly in recent times, with...

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