TOP STORY: Toshiba Corp could be taken private by a consortium led by private equity firm Japan Industrial Partners (JIP) in a deal that vales the business at about $16.1 billion (JPY2.4 trillion), according to a report by Bloomberg.
Toshiba Corp could be taken private by a consortium led by private equity firm Japan Industrial Partners (JIP) in a deal that vales the business at about $16.1 billion (JPY2.4 trillion), according to a report by Bloomberg.
The report cites unnamed sources as revealing that JIP, the preferred bidder for the Tokyo-headquartered conglomerate, intends to provide JPY1 trillion in cash, while looking for JPY1.4 trillion in credit banks plus a credit line of JPY2 billion in working capital.
JIP is reportedly in talks to form a partnership with domestic companies including Orix Corp and Chubu Electric Power Co as well as global investment firms such as Baring Private Equity Asia and CVC Capital Partners to progress the deal which would keep Toshiba’s current business structure intact.
A consortium led by US private equity group Bain Capital is also in the second round of bidding, which began in the spring and is set to conclude by the end of November, as state-backed investment fund Japan Investment Corp (JIC).
