Murakami-backed fund raises bid for JAG in battle against Carlyle

Industry:    2021-02-05

A Japanese fund backed by veteran investor Yoshiaki Murakami has raised its offer for energy and environment firm Japan Asia Group (JAG), competing against a management buyout bid backed by Carlyle Group, Jiji News reported on Thursday.

City Index Eleventh raised its offer for JAG to 1,210 yen per share, the report said. The fund previously offered 840 yen per share, which prompted Carlyle to raise its offer last month.

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