Toshiba Completes Sale of Westinghouse to Brookfield
Toshiba Corporation of Tokyo, Japan, announced today that it’s completed the sale of its holdings in Toshiba Nuclear Energy, the indirect holding company of Westinghouse Electric, to Brookfield Business Partners.
Westinghouse filed for U.S. Chapter 11 bankruptcy protection in March 2017.
In January 2018, Toshiba announced that Brookfield Business Partners had agreed to acquire Westinghouse from Toshiba for about $4.6 billion.
Toshiba noted that its forecast for its fiscal year that ended on March 31, 2018 did not include the impact of proceeds from the sale, but that it is currently doing so now. It will announce results for its fiscal year on May 15, 2018.
- March 2018: Sale of Toshiba’s Memory Business Delayed
- January 2018: Toshiba Finds Buyer for Westinghouse Nuclear-Power Business
- November 2017: Toshiba Seeking to Sell TV Business to Chinese Company for $114 Million
- November 2017: Toshiba Reports Loss for Half, but Memory Business Records Strong Performance
- October 2017: Toshiba Revises Forecast, Expects Net Loss of Almost $1 Billion
- September 2017: Western Digital Seeks Injunction to Stop Sale of Toshiba’s Memory Business
- September 2017: Toshiba Says it Will Sell Memory Business to Consortium Led by Bain Capital
- August 2017: Troubled Toshiba Said to be Close to Selling Memory-Chip Business (Updated)
- August 2017: Toshiba Reports $8.8 Billion Loss for Fiscal Year