JIP-led group makes final offer to buyout Toshiba-Nikkei (updated)
09/02/2023 24:15
(Adds background)
TOKYO, Feb 9 (Reuters) - A Japan Industrial Partners-led
consortium has submitted a final proposal worth around 2
trillion yen ($15.22 billion) to buy Toshiba Corp 6502.T , the
Nikkei business daily reported on Thursday.
Toshiba's shares fell 3% following the report.
Major Japanese banks, including Sumitomo Mitsui Banking Corp
8316.T , have issued a letter of commitment to provide loans to
JIP totalling around 1.2 trillion yen, the Nikkei reported.
Toshiba said it would not make a comment immediately. JIP
declined to comment.
Bloomberg News reported on Tuesday that Japanese banks,
including Sumitomo Mitsui, had agreed to issue letters this week
committing to a 1.4 trillion yen loan to back the JIP-led
consortium's bid.
The buyout would also include 1 trillion yen in equity to be
provided by a number of Japanese companies including financial
services group Orix Corp 8591.T , chipmaker Rohm Co Ltd
6963.T and Japan Post Bank 7182.T , sources have said.
Toshiba named the JIP-led group as its preferred bidder in
October. The private equity firm was then asked by Toshiba to
provide commitment letters from banks by Nov. 7, something it
was unable to secure by that date.
($1 = 131.3700 yen)
(Reporting by Satoshi Sugiyama, Makiko Yamazaki and Ritsuko
Shimizu
Editing by Chris Reese and Neil Fullick)
((Satoshi.Sugiyama@thomsonreuters.com;))