UPDATE 1-Japan govt-backed fund to buy 40 pct stake in Landis+Gyr - Nikkei

Newswire

(Follows alerts) June 24 (Reuters) - Japan's Innovation Network Corp, an investment fund set up by the government and the private sector, will buy a 40 percent interest in Swiss meter maker Landis+Gyr for 57.3 billion yen($711.4 million), the Nikkei business daily said. The fund will work with Japanese electronics manufacturer Toshiba Corp , which is expected to buy a 60 percent stake in Landis+Gyr, the Nikkei said. In May, Toshiba said it will buy Landis+Gyr in a deal valued at $2.3 ...

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