Toshiba's No.1 shareholder to sell shares in JIP offer-source (updated)

Toshiba

15/09/2023 06:58

(Adds background, details)
    By Makiko Yamazaki
       TOKYO, Sept 15 (Reuters) - Toshiba's  6502.T  largest
shareholder Effissimo Capital Management has decided to tender
shares in the takeover offer led by Japan Industrial Partners
(JIP), a source familiar with the matter said on Friday.
    Effissimo has 9.89% stake in Toshiba, according to a
document filed to Japan's financial regulator on Thursday.
    JIP, a private-equity firm, launched a 4,620 yen-per-share
bid to take the industrial conglomerate private last month. It
closes on Sept. 20.
    At least two-thirds of shareholders need to tender their
shares for the bid to succeed.  

 (Reporting by Makiko Yamazaki; Writing by Kantaro Komiya;
Editing by Jacqueline Wong and Neil Fullick)
 ((Kantaro.Komiya@thomsonreuters.com; Twitter: @kantarokomiya;))