Chubu Electric joins all-Japan Toshiba buyout consortium
TOKYO (Reuters) -Chubu Electrical Energy Co mentioned on Sunday it’s becoming a member of personal fairness agency Japan Industrial Companions (JIP) in conducting due diligence for a possible buyout of Japanese conglomerate Toshiba Corp.
Toshiba, which is exploring going personal and different choices, has chosen Bain Capital, CVC Capital Companions, Brookfield Asset Administration and a consortium involving JIP and state-backed Japan Funding Corp to proceed to a second bidding spherical.
JIP has contacted greater than 10 firms together with Chubu Electrical, Orix Corp and Central Japan Railway Co (JR Central) to take part in its consortium, the Nikkei newspaper reported on Sunday.
Orix mentioned it was contemplating investing in Toshiba, with out offering particulars. Toshiba mentioned it doesn’t touch upon candidates for the potential buyout. JR Central didn’t instantly reply to a request for remark.
(Reporting by Mariko Katsumura, Sam Nussey, Makiko Yamazaki, Ritsuko Shimizu and Junko Fujita; Enhancing by Alex Richardson, Christian Schmollinger and William Mallard)
