September 06, 2010

Big Banks, DBJ To Launch New Corporate Rehab Fund

Two major banks are partnering with the Development Bank of Japan to set up as early as month's end a corporate turnaround fund aiming to invest as much as 100 billion yen, according to Nikkei. The Bank of Tokyo-Mitsubishi UFJ, Sumitomo Mitsui Corp., and the state-backed DBJ will pool their resources in the turnaround fund, which will help companies back onto their feet.

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