2023-09-21 02:17:00
According to information Bloomberg, Toshiba’s nearly 74-year history as a public company is close to ending as a consortium of investors led by Japanese fund Japan Industrial Partners has nearly completed the buyout of the company’s shares from the stock market. At least, 78.65% of the shares of the Japanese corporation, whose history dates back to 1875, is already concentrated in the hands of a group of investors.
Image source: Toshiba
It is argued that it will be quite easy to persuade the remaining shareholders to sell their Toshiba shares, and the company will eventually become private once more. Since the last decade, the Japanese corporation has been plagued by financial setbacks; the memory chip business, which generated a significant portion of its revenue, was eventually sold to a consortium of investors, and now operates independently under the Kioxia brand. In it, Toshiba continues to control more than 40% of the shares, so the privatization of the parent corporation largely complicates preparations for the upcoming merger of the assets of Western Digital and Kioxia for the production of solid-state memory. Both deals will now see progress. Toshiba shares will leave the Tokyo Stock Exchange in December this year.
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#Privatization #Toshiba #close #completion
