Orix confirms plan to invest $1.5 bln in Toshiba buyout

Orix

10/05/2023 10:37

TOKYO, May 10 (Reuters) - Japanese financial services
firm Orix Corp  8591.T  said on Wednesday it would invest 200
billion yen ($1.48 billion) in a $15 billion buyout of Toshiba
Corp  6502.T .
    Orix said in an earnings document that it would extend 100
billion yen for equity and 100 billion yen in mezzanine
syndicated loans, in its first official confirmation of details
of the investment plan for the deal.
    The decision is based on its "positive views of Toshiba's
corporate value and executability of management's reform plan,"
the company said in the document. Sources have said Orix'
planned investment was trimmed from the initial 300 billion yen.
    Toshiba's board in March accepted a 2 trillion yen ($14.81
billion) buyout offer from a group led by private equity firm
Japan Industrial Partners. The group plans to start the tender
offer in late July. 

($1 = 135.0500 yen)

 (Reporting by Makiko Yamazaki, Editing by Louise Heavens)
 ((Makiko.Yamazaki@thomsonreuters.com; +81-3-4563-2805;))