Toshiba accepts an offer from a Japanese consortium with a transaction size of about 2 trillion yen

CTOnews.com, March 23, according to the Nikkei News, Toshiba has accepted a takeover offer from a consortium led by JIP (Japan Industrial Partners). The size of the deal is estimated to be about 2 trillion yen (CTOnews.com Note: currently about 104.2 billion yuan). Toshiba's board of directors has now approved the offer and submitted a delisting plan to shareholders.

In February, Nikkei reported that a consortium led by JIP had submitted a final bid for Toshiba at a price of about Y2,000bn, including a loan of 1.6 trillion yen, in a bid to privatise the troubled company.

Tuyuan Unsplash Bloomberg earlier quoted people familiar with the matter as saying that several big Japanese banks issued loan commitment letters to support the Japan Industrial Partners-led acquisition.

It had been reported that the deal was expected to reach about 2.2 trillion yen (about 111.98 billion yuan), but now it seems to be a little high. Previous sources have also said that the stake will be provided by a number of Japanese companies, including financial services group Orix, chipmaker Rohm and Postal Bank of Japan.