Toshiba can sell for 2 trillion yen
2022.12.17 10:41
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Toshiba can sell for 2 trillion yen
Budrigannews.com – The preferred bidder to acquire Toshiba (OTC:) was Japan Industrial Partners (JIP). The business daily reported on Saturday that Corp, may reduce the valuation from the planned 2.2 trillion yen ($16.09 billion) to levels below 2 trillion yen.
According to the Nikkei, despite the fact that JIP has secured funding in the amounts of 1 trillion yen in equity from domestic businesses and 1.2 trillion yen in loans from major banks, it may reduce the valuation due to Toshiba’s recent decline in earnings and the requirement for working capital following the buyout.
In a letter to shareholders on Friday, Toshiba stated that it hoped to conclude negotiations with potential partners as soon as possible.
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The letter stated that it would “plan to receive binding and bona-fide proposal(s) and shall be making strong efforts to arrive at a conclusion as early as possible after necessary negotiations.”
