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Toshiba, a notable player in sectors ranging from electronics to power stations, is preparing for a private life after 74 years on the public markets.

Here’s what you need to know:

  • Major Stake Acquisition: Toshiba’s majority stake has been acquired by a consortium led by the private equity firm Japan Industrial Partners. They now hold 78.65% stake obtained via a tender offer.
  • Impact on Other Shareholders: With JIP and its group now in control of over two-thirds of Toshiba, they have substantial sway over the remaining shareholders.
  • Stock Exchange Departure: Toshiba is anticipated to bid farewell to the stock exchange as early as December, marking a significant end of an era.
  • Who’s in the Consortium: JIP’s team includes around 20 Japanese firms, with notable members like the financial services firm Orix and the chipmaker Rohm.
  • Buyout Value: The buyout deal, approved by Toshiba in March, pegged the industrial titan at 2 trillion yen ($13.5B) despite some arguing that the offer price of 4,620 yen per share falls slightly short of expectations.
  • Toshiba’s Rough Patch: The company has faced several challenges in recent years. Accounting malpractices since 2015, substantial losses, near delisting, and governance scandals have rocked the firm.

Toshiba’s CEO, Taro Shimada expressed gratitude towards the understanding shareholders and conveyed Toshiba’s readiness to embrace a fresh future with its new shareholders.

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