Itochu mulls investment to help rebuild scandal-hit Bigmotor

Economy Society

Japanese trading house Itochu Corp. said Friday it is considering investing in Bigmotor Co. in a bid to help reconstruct the used car dealership mired in an insurance fraud scandal. Itochu, together with its subsidiary Itochu Enex Co. and investment fund J-Will Partners, won exclusive negotiation rights and will launch due diligence. They plan to make a final decision by next spring, it said. The potential investment is based on the premise that the founding family of Bigmotor will no longer be involved in the management of the company, Itochu said. Bigmotor is facing sponsorship challenges am...

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