ReutersSep 26, 2019 16:43:44 IST
Chinese investment firm Harvest Group will not provide any financial aid to Apple Inc supplier Japan Display Inc, the Nikkei said on Thursday, possibly disrupting restructuring plans for the cash-strapped LCD maker.
The display maker is tapping a consortium led by Harvest for an 80 billion yen ($740 million) bailout deal, which includes investments from Apple and Hong Kong-based activist investor Oasis Management.
Japan Display declined to comment on the report. Harvest was expected to contribute 60 billion yen, the Nikkei reported, citing sources familiar with the negotiation.
The Japanese company has repeatedly struggled to come up with a restructuring plan, and Harvest’s decision is likely to worsen the situation for the troubled firm.
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