Toshiba to start taking bids in June for its Swiss unit Landis+Gyr: Kyodo
Reuters
Published Apr 25, 2017 01:30AM ET
Updated Apr 25, 2017 01:40AM ET
Toshiba to start taking bids in June for its Swiss unit Landis+Gyr: Kyodo
TOKYO (Reuters) - Japan's Toshiba Corp (T:6502) will start taking bids for Landis+Gyr, its Swiss smart meter unit, as early as June, Kyodo news agency reported on Tuesday.
Hitachi Ltd (T:6501) and other Japanese firms are seen as possible bidders for the unit, Kyodo said, without citing sources.
Reuters last month reported that Toshiba had hired UBS to explore a sale or an initial public offering of the business, potentially valued at over $2 billion.
Toshiba is targeting buyout groups such as Carlyle (O:CG), Cinven (CINV.UL), Advent, Blackstone (N:BX), Bain, Onex (TO:ONEX), Triton, CD&R and even former owner KKR (N:KKR), a person close to the matter said.
A Toshiba spokesman did not have an immediate comment on the report.
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