Japan's Niterra to back Toshiba buyout group with $359 mln
19/07/2023 07:18
TOKYO, July 19 (Reuters) - Japan's auto parts
manufacturer Niterra Co 5334.T said on Wednesday it will put
50 billion yen ($359 million) into a buyout group led by Japan
Industrial Partners (JIP) that is launching a tender offer for
Toshiba Corp 6502.T .
Niterra said in a statement it will invest 25 billion yen in
the JIP-led group TBJ Holdings Inc, and subscribe for another 25
billion yen in subordinated bonds issued by the group.
Niterra's announcement came a day after chipmaker Rohm
6963.T said it will spend 300 billion yen on the Toshiba
buyout plan.
($1 = 139.4300 yen)
(Reporting by Kantaro Komiya; Editing by Tom Hogue)
((Kantaro.Komiya@thomsonreuters.com; Twitter: @kantarokomiya;))