INCJ To Invest US$680 Mil In Landis+Gyr

Innovation Network Corporation of Japan (INCJ), a unique public-private investment fund, announced that INCJ will invest in Landis+Gyr AG, a global leader in energy management solutions for utilities, with Toshiba Co., a major comprehensive electrical manufacturer. Toshiba will establish a SPV in Switzerland as a vehicle for the acquisition of Landis+Gyr, capitalized at US $1700 million. INCJ will invest US $680 million in the SPV and secure 40% of its equity as a strategic investment partner.