Toshiba will buy out other shareholders, many of them activist, and be taken private.
The JIP consortium has about 20 Japanese companies in it including Orix, Rohm and Chubu Electric Power, and is backed by loans from Japanese banks.
Other bidders for Toshiba were Japan Investment Company (JIC) in a consortium with MBK Partners and Bain Capital and CVC Capital Partners combined with Canada’s Brookfield Asset Management.
