UPDATE: State-backed Japan Investment Corp, DBJ to join CVC’s Toshiba bid

State-backed Japan Investment Corp and the Development Bank of Japan (DBJ) are joining CVC Capital Partners’ bid to take Toshiba Corp private, Nikkei reported on Friday.

The fund is set to offer 5,000 yen per share, with plans to launch a tender offer in early July and to delist Toshiba shares in October, the report said.

Development Bank of Japan Inc. is a Japanese development bank incorporated on 1 October 2008 under the Development Bank of Japan Inc. Law. Current ownership structure of DBJ is solely owned by the Government of Japan through the Minister of Finance.

CVC Capital Partners is a private equity and investment advisory firm with approximately US$111 billion in secured commitments since inception across European and Asian private equity, credit and growth funds.

Source: Reuters

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