© Reuters. FILE PHOTO: Logos of Toshiba are pictured at a venue of Toshiba Corp’s annual general meeting with its shareholders in Tokyo, Japan, June 25, 2021. REUTERS/Kim Kyung-Hoon
TOKYO (Reuters) -A consortium of more than 10 Japanese companies, led by the Japan Industrial Partners investment fund, has submitted a bid to buy Toshiba (OTC:) Corp for about 2.2 trillion yen ($15.01 billion), the newspaper reported on Monday.
The consortium, including Chubu Electric Power Co Inc and Orix (NYSE:) Corp, appears not to have obtained commitment letters from banks but is aiming to complete the lending deal by end-November if Toshiba accepts the bid to go private, Nikkei said.
Japanese companies in the consortium will spend about 1 trillion yen, while multiple overseas funds decided not to join the bid due to expectations for low returns, the newspaper added.
When asked for a comment on the report, a Toshiba representative said the company “cannot answer information about candidates, including co-investors, as it may undermine fair process”.
($1 = 146.5400 yen)
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