Orix can invest about $2 billion in Toshiba buyout - Nikkei Business
Reuters
Published Oct 21, 2022 04:40AM ET
Updated Oct 21, 2022 05:21AM ET
TOKYO (Reuters) -Orix Corp has decided it could invest about 300 billion yen ($2 billion) in a consortium to buy out Japanese industrial conglomerate Toshiba (OTC:TOSYY) Corp, the Nikkei Business magazine reported on its website on Friday.
A consortium led by private equity firm Japan Industrial Partners (JIP) has been granted preferred bidder status by Toshiba in a second round of bidding, though the conglomerate is still open to proposals from others.
JIP has asked multiple companies to join the consortium, including Orix (NYSE:IX) and Chubu Electric Power Co Inc.
An Orix spokesperson said the company has been considering the matter regarding Toshiba, but declined to comment further.
($1 = 150.7200 yen)
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Written By: Reuters
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