TOKYO (Sept 18): Chubu Electric Power Co said on Sunday it is joining private equity firm Japan Industrial Partners (JIP) in conducting due diligence for a potential buyout of Japanese conglomerate Toshiba Corp.Toshiba, which is exploring going private and other options, has selected Bain Capital, CVC Capital Partners, Brookfield Asset Management, and a consortium involving JIP and state-backed Japan Investment Corp to proceed to a second bidding round. JIP has contacted more than 10 companies including Chubu Electric, Orix Corp, and Central Japan Railway Co (JR Central) to participate in its consortium, the ^Nikkei newspaper reported on Sunday. Toshiba said it does not comment on candidates for the potential buyout. Orix and JR Central did not immediately respond to a request for comment.

Source: The Edge Markets September 18, 2022 08:40 UTC