Chubu Electric joins all-Japanese Toshiba buyout consortium (updated)

Central Japan Railway

18/09/2022 03:21

(Recasts on Chubu Electric comment)
    TOKYO, Sept 18 (Reuters) - Chubu Electric Power Co  9502.T 
said on Sunday it is joining private equity firm Japan
Industrial Partners (JIP) in conducting due diligence for a
potential buyout of Japanese conglomerate Toshiba Corp  6502.T .
    Toshiba, which is exploring going private and other options,
has selected Bain Capital, CVC Capital Partners, Brookfield
Asset Management and a consortium involving JIP and state-backed
Japan Investment Corp to proceed to a second bidding round.
    JIP has contacted more than 10 companies including Chubu
Electric, Orix Corp  8591.T  and Central Japan Railway Co (JR
Central)  9022.T  to participate in its consortium, the Nikkei
newspaper reported on Sunday.
    Toshiba said it does not comment on candidates for the
potential buyout. Orix and JR Central did not immediately
respond to a request for comment. 

 (Reporting by Mariko Katsumura; Editing by Alex Richardson and
Christian Schmollinger)
 ((Mariko.Katsumura@thomsonreuters.com;))