Informationfrom Japan
Tokyo, Jan. 20 (Jiji Press)–Japan Industrial Companions Inc. is struggling to acquire settlement from a financial institution syndicate on anticipated loans to finance the funding fund’s deliberate acquisition of Toshiba Corp. <6502>, sources have stated.
JIP, the popular bidder for the electronics and heavy equipment big, is negotiating with the group of 5 Japanese banks, hoping to safe as much as 1.4 trillion yen in loans by the top of January.
The 2 sides are nonetheless aside over monetary covenants on circumstances the borrower should fulfill if Toshiba’s monetary well being deteriorates once more, the sources stated.
The acquisition of Toshiba is estimated to value 2.2 trillion yen.
Of the quantity, JIP plans to acquire 1 trillion yen in investments from about 20 firms together with leasing firm Orix Corp. <8591>, semiconductor maker Rohm Co. <6963> and Chubu Electrical Energy Co. <9502>.
[Copyright The Jiji Press, Ltd.]