JIP to takeover Toshiba for $16.10 billion

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MUMBAI: A consortium led by Japan Industrial Partners (JIP) Inc. is considering a takeover of Toshiba Corp at a valuation of $16.10 billion (2.40 trillion yen). If this deal goes through, it will be the biggest takeover in Asia so far this year, said the information received.

The JIP-led group, which is the lead bidder to buy the Japanese industrial conglomerate, expects to pay 1 trillion yen in cash for the takeover, in addition to 1.40 trillion yen in bank financing.

Line of credit of 200 billion yen has also been guaranteed for working capital.

In its meeting with the banks, Toshiba informed that JIP had valued its company at 2.40 trillion yen, the information received further said.

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