Murakami-backed fund outbids Carlyle in battle for energy firm Japan Asia Group

Murakami-backed fund outbids Carlyle in battle for energy firm Japan Asia Group

Photo: Reuters

A Japanese fund backed by veteran investor Yoshiaki Murakami plans to make an 18 billion yen ($173 million) bid for energy and environment firm Japan Asia Group (JAG), topping a management buyout offer backed by Carlyle Group.