May 16, 2022
In an announcement made on 13 May, Toshiba said that it is engaging with potential investors, sponsors and partners to solicit proposals on strategic alternatives (including privatisation) “to enhance the Company’s corporate value”.
After setting up the “Special Committee” in April, the company engaged with potential investors, sponsors and partners to solicit proposals on strategic alternatives. The company said that it is “as part of the evaluation of such strategic alternatives, to further advance the engagement with private equity funds” to determine if the “Strategic Review Committee” proposal was the best.
The company is now waiting for non-binding proposals from potential investors, sponsors and partners. Toshiba will then evaluate the proposals and will give the opportunity of due diligence.
The company has retained Nomura Securities Co., Ltd., as financial advisor and Nishimura & Asahi as legal advisor.
Categories : City News