Stalled efforts: A woman walks in front of the Toshiba Corp building in Kawasaki. Bidding groups intent on taking over the Japanese conglomerate are facing obstacles as banks are hesitant to finance it. — Reuters
TOKYO: A takeover of Toshiba Corp, which could be the biggest buyout in Asia this year, is at risk of slipping behind schedule as the bidding groups run into obstacles securing financing commitments from banks.
The consortium led by Japan Industrial Partners Inc (JIP) and a rival group led by state-backed investment fund Japan Investment Corp (JIC) will find it hard to meet a Nov 7 deadline, set by the iconic conglomerate, to line up commitment letters, according to people familiar with the matter.
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