Chubu Electric Power joins consortium to buy Toshiba

Japan's Chubu Electric Power Co. said on Sunday that it will join private equity firm Japan Industrial Partners (JIP) in conducting due diligence on a possible acquisition of Japanese conglomerate Toshiba.

According to previous reports, Toshiba is seeking privatization or other options. The bidding team for the acquisition of the Toshiba consortium includes Bain Capital, CVC Capital Partners, Brookfield Asset Management, and a consortium of JIP and state-backed Japanese investment companies. Enter the second round of bidding.

JIP has contacted more than 10 companies including Chubu Electric Power, ORIX, and JR Central to join its consortium.

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