TOKYO, Japan: Japanese media reports indicate that numerous groups, both foreign and domestic, are bidding to buy Toshiba Corp.
Among the main proposals are one from Japan Investment Corp (JIC) and Norinchukin Bank, which are state-backed funds.
In addition, private equity fund CVC Capital Partners, which submitted a previous offer to Toshiba, may submit an offer that would make it private to Toshiba. In addition, KKR & Co Inc. and Brookfield are considering bidding for the company.
The inmates believe the preferable offer would come from a Japanese-only group, as regulators and management might prefer Japanese ownership.
The newspaper said other government-affiliated funds could also join the tender.
Earlier this month, a $ 20 billion CVC proposal included Toshiba’s deprivation.
However, CVC’s offer has been criticized by Toshiba’s board chairman as “lack of funds”.
In addition to manufacturing computers and copying machines, Toshiba designs the technology used in guiding missiles and other defense systems.
Toshiba recently appointed a new CEO, after CEO Nobuaki Kurumatani was questioned about its governance methods.