The conglomerate is being taken private by a group of investors led by private equity firm Japan Industrial Partners(JIP) which also includes financial services firm Orix, utility Chubu Electric Power and chipmaker Rohm.
A 2 trillion yen ($13.5 billion) takeover bid for Toshiba Corp. by a consortium led by Japan Industrial Partners Inc. has succeeded, the Tokyo-based fund group says, paving the way for the troubled conglomerate to end its 74-year history as a listed company and rebuild itself as a private firm.