5 banks to lend 1.4 tril. yen to Japanese fund for Toshiba buyout

Economy

Sumitomo Mitsui Banking Corp. and four other Japanese banks will lend a total of around 1.4 trillion yen ($10.6 billion) to a domestic investment fund to help it buy out Toshiba Corp., a source familiar with the matter said Thursday. A document promising the combined loan will be sent next week to Japan Industrial Partners Inc., which has already secured an investment offer worth about 1 trillion yen from a group of more than 20 Japanese companies, including Orix Corp. The acquisition of the embattled conglomerate is expected to total between 2.2 trillion yen and 2.5 trillion yen. Japan Indust...

Kyodo News

Kyodo News