Private equity fund JIP submits $15-billion bid for Toshiba -Nikkei

FILE PHOTO: Logos of Toshiba are pictured at a venue of Toshiba Corp's annual general meeting with its shareholders in Tokyo, Japan, June 25, 2021. REUTERS/Kim Kyung-Hoon

TOKYO (Reuters) -Private equity fund Japan Industrial Partners has submitted a bid of around $15 billion to buy Toshiba Corp, the Nikkei newspaper reported on Monday, delivering the proposal just before a looming preferred-bidder deadline.

JIP's proposal, which includes more than ten investors including utility Chubu Electric Power Co Inc and financial services group Orix Corp, appears not to have obtained commitment letters from banks, the report said, adding the fund was aiming to pull together financing by the end of this month if Toshiba accepted the bid.