The Toshiba Corp conglomerate will be acquired by Japan Industrial Partners. It will be a big deal between private and public capital.
Japanese industrial conglomerate Toshiba Corp will be bought by a consortium of investors led by Japan’s largest private equity fund Japan Industrial Partners (JIP). The transaction price is more than $15 billion. After that, the company will go private. It was reported by The Wall Street Journal.
The 147-year-old conglomerate, valued at 1.8 trillion yen ($14 billion) at the market close on Thursday, March 23, will be acquired by a fund that leads a consortium of 20 companies including the Orix group, Chubu Electric Power and chips. making Rohm.
The publication writes that if the deal is approved by shareholders and regulators, it will mark the end of years of instability at Toshiba, the former leader of the Japanese corporate world, which has been forced to abandon many of its prominent divisions, including the manufacture of laptops and medical equipment.
Earlier, in April last year, Toshiba announced plans to solicit potential investors for proposals on restructuring options. About a month earlier, the company’s shareholders rejected management’s plan to split the business in two. Foreign investors have asked the company to consider selling the entire company to a private investment firm.
It was previously reported that the investment firm ECP bought the owner of the site Pornhub.
Remember that Pfizer will buy Seagen for $43 billion.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.