At this stage, Toshiba is considering a series of restructuring plans, which also involve the possibility of privatization. In June, Toshiba said it had received 10 investment proposals, including eight for privatization. The other two are about capital and business alliances, and Toshiba will remain listed.
Earlier intelligence indicated that Japan Investment Corp (JIC), an investment fund backed by the Japanese government, and the Japanese private equity firm Japan Industrial Partners (JIP) formed an alliance in the first round. stand out in the bidding.
A person familiar with the matter said that the Japanese enterprise alliance with JIP as the core is seeking to acquire Toshiba for 2.8 trillion yen (about 137.76 billion yuan), which is about 2.22 trillion yen higher than Toshiba's current market value. 26%.
Toshiba plans to negotiate first with the JIP-centered corporate alliance. JIP has sought investment from a number of Japanese companies such as Chubu Electric Power and ORIX to participate in the restructuring of Toshiba. It seems that the strategy of restructuring through delisting is being discussed, and whether it can raise a huge acquisition fund of more than 2 trillion yen (about 98 billion yuan) will be the focus.
Toshiba also announced on September 30 that it received a letter of intent equivalent to a restructuring plan from multiple groups that passed the first round of bidding. It is reported that in addition to JIP, the semi-official fund "Industrial Innovation Investment Institution" has also submitted a letter of intent, and the partners of Toshiba's restructuring have actually been reduced to two camps dominated by domestic funds.
Toshiba's first-quarter results show that due to global chip shortages and rising raw material costs, Toshiba's first-quarter operating loss was 4.8 billion yen, the first quarterly loss in two years, and a net profit of 14.5 billion yen in the same period last year.
Previously reported that JIP and JIC had a disagreement over Toshiba's restructuring plan, leading JIC to plan to abandon JIP and instead cooperate with other overseas investment funds that won the first round of bidding, including Bain and Company in the United States Capital (Bain Capital) and CVC Capital in the UK.
Toshiba has been plagued by financial and governance crises since 2015. Toshiba formed a special committee in April to solicit outside investment proposals after shareholders voted down a management-backed restructuring plan.
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