Posted 9/21/2023, 2:12:00 AM
Toshiba taken private in $14B deal by JIP consortium, ending years of turmoil
- Toshiba says $14 billion takeover bid by JIP consortium has succeeded, giving them a majority stake to take the company private
- The deal ends years of turmoil for Toshiba involving accounting scandals, heavy losses, and governance issues
- JIP is a Japanese private equity firm experienced in carve-outs from big Japanese conglomerates like Olympus and Sony
- The consortium retains Toshiba's current CEO and management team
- JIP's partners include Japanese companies like chipmaker Rohm, financial firm Orix, and utility Chubu Electric