Deal Snapshot
TOSHIBA MACHINE BUYS BACK STAKE FROM PARENT COMPANY
Thursday 20 April 2017

Japanese heavy machine manufacturer Toshiba Machine Co., Ltd. of Japan has bought back 18.1% of the 20.1% of total shares of stock owned by Japanese conglomerate Toshiba Corp., its previous parent company and top shareholder, the company said.
As a result, Toshiba Corp is no longer Toshiba Machine's top shareholder and Toshiba Machine no longer belong to the Toshiba Group. This formal announcement was made in response to rumors about Toshiba Machine's financial soundness following a recent statement by Toshiba Corp., which reported significant losses in its nuclear power business.


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Details
Date Published: 20/04/2017
Target: Toshiba Machine Co/18.1%
Country: Japan
Deal Size: 120m (USD)
Sector: Machinery/Engineering
Type: Corporate acquisition
Financing: Cash
Status: Closed
Vendor: Toshiba Corp
Buyer: Toshiba Machine Co
Comment:
Toshiba Machine Co buys back most of stake held by parent

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