Toshiba ponders Chapter 11 for nuclear unit
- Author:Ella Cai
- Release on:2017-03-27
Reuters reports that Toshiba will put its Westinghouse nuclear unit into Chapter 11 and take a $9 billion charge on its losses.
The move would limit future liabilities from the unit.
The Singapore investment fund Effissimo increased its stake in Toshiba to over 8% as shares rose 7.6%.
Toshiba has received interest in the sale of its chip business from many blue-chip chip companies including Micron, TSMC, Foxconn, Western Digital, Hynix and several others.
Toshiba reckons the chip business is worth $13 billion.
The Japanese government has said any purchasers will be examined rigorously.
Goldman Sachs is advising Toshiba on how to cope with the effects of the nuclear unit’s disaster.
The move would limit future liabilities from the unit.
The Singapore investment fund Effissimo increased its stake in Toshiba to over 8% as shares rose 7.6%.
Toshiba has received interest in the sale of its chip business from many blue-chip chip companies including Micron, TSMC, Foxconn, Western Digital, Hynix and several others.
Toshiba reckons the chip business is worth $13 billion.
The Japanese government has said any purchasers will be examined rigorously.
Goldman Sachs is advising Toshiba on how to cope with the effects of the nuclear unit’s disaster.
