Japan Investment Corp to set up 2nd Toshiba restructuring plan -Kyodo

The Toshiba Corporation logo is displayed on top of the company’s facility building in Kawasaki, Japan, on June 24, 2022. REUTERS/Issei Kato

TOKYO, Sept 21 (Reuters) – State-backed Japan Investment Corporation (JIC) is considering a second proposal for a restructuring plan for Toshiba Corp ( 6502.T ), which has cut ties with Japan Industrial Partners (JIP) with which it was first linked. The bidding round, Kyodo news reported Wednesday.

Toshiba has sought strategic proposals and restructuring plans, including going private after a buyout.

GIP and JIC disagreed on the best offer for Toshiba, prompting JIC to consider a new partnership with Bain Capital or other funds that passed Toshiba’s first bidding round, including CVC Capital Partners, Kyodo said.

Reporting by Kantaro Komiya, Editing by Louise Havens

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