Japanese Consortium Led by JIP Secures Majority Stake in Toshiba
A consortium led by Japan Industrial Partners JIP, a private equity firm, has acquired 78.65% of Toshiba through a tender offer, inching closer to the
A consortium led by Japan Industrial Partners JIP, a private equity firm, has acquired 78.65% of Toshiba through a tender offer, inching closer to the completion of a $14 billion deal to privatize the company. With this majority ownership, JIP can push out remaining shareholders, paving the way for Toshibas delisting, expected as early as December, marking the end of its 74year history as a publicly traded firm. The deal signifies a shift of Toshiba into domestic hands, following years of clashes with overseas activist shareholders. JIPs consortium includes around 20 Japanese firms, such as Orix and Rohm.
Read More..
B2B Tech News | 2 days ago