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Japanese fund submits $15bn proposal

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TOKYO, Nov 08 (Nikkei) –
Investment fund Japan Industrial Partners has submitted a proper proposal to take over Toshiba for about 2.2 trillion yen ($15 billion), Nikkei realized on Monday.

The proposal is predicated on Toshiba’s present share value. Toshiba’s particular committee that was established in April will resolve whether or not to simply accept the bid.

JIP was chosen as a most popular bidder in October and is main a consortium of patrons. It had been figuring out the small print of the takeover and has carried out an asset evaluation, considering the unsure semiconductor business outlook in addition to the truth that Toshiba’s stock value has already risen in anticipation of restructuring.

About 1 trillion yen might be funded by a bunch of Japanese firms, together with utility Chubu Electric Power and leasing firm Orix. More than 10 firms have expressed an curiosity in contributing capital. JIP itself will even inject 100 billion yen.
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