Toshiba in talks to sell its white goods business

Mar 15, 2016

Toshiba in talks to sell its white goods business to Midea Group: Nikkei

Japanese industrial conglomerate Toshiba Corp (6502.T) said it is in late-stage talks to sell its white goods business to Chinese household appliance giant Midea Group Co Ltd (000333.SZ), Nikkei reported on Monday.

The deal is expected to fetch tens of billions of yen, the Japanese business daily reported.

Toshiba granted Canon Inc (7751.T) exclusive negotiating rights for its medical equipment unit, earlier this month, after a hotly contested auction, with a report putting Canon’s offer at more than $6 billion.

(Reporting by Nikhil Subba in Bengaluru; Editing by Shounak Dasgupta)

Source: REUTERS