A Japanese consortium chosen in the first round of bids to restructure Toshiba Corp has decided to explore other options, Kyodo news reported on Wednesday.
Japan Investment Corp (JIC) is considering a second proposal for Toshiba, breaking off with Japan Industrial Partners (JIP), according to Kyodo.
Conglomerate Toshiba is looking at a number of restructuring plans, including going private.
Kyodo said private equity firm JIP and state-backed fund JIC disagreed over the proposal, prompting JIC to consider a new partnership with overseas funds that also passed Toshiba’s first bidding round, including U.S.-based Bain Capital or UK-based CVC Capital Partners.
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