Bain Capital: Many Challenges to Solve Before Considering Taking Toshiba Private

   By Kosaku Narioka

Bain Capital said Thursday that there are many challenges to solve before considering taking Toshiba Corp. private.

The U.S. private-equity firm said in a statement on its website that it needed to continue careful talks with Toshiba's management, the Japanese government, financial institutions and other stakeholders.

Bain said that nothing had been decided about a possible tender offer for the Japanese industrial company.

Bain made the comments after a major Toshiba shareholder, Effissimo Capital Management Pte. Ltd., said in a regulatory filing that it would tender its stake if Bain starts a tender offer for Toshiba. Effissimo holds a 9.9% stake in the company, according to the filing.

Earlier this month, Toshiba shareholders rejected a management plan to split the company into two parts, reflecting strong opposition from foreign shareholders.

Toshiba board members have said they had contacts with potential private-equity investors, but never received a concrete offer for the whole company.

Write to Kosaku Narioka at kosaku.narioka@wsj.com

(END) Dow Jones Newswires

March 31, 2022 05:12 ET (09:12 GMT)

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