(MENAFN) A Japanese investment fund has guaranteed nearly 1 trillion yen ($6.8 billion) to buy Toshiba Corp. and informed the struggling company that the amount had been donated by a group of more than 10 Japanese companies, according to local media.

“Japan Industrial Partners (JIP), which leads a consortium that Toshiba has named as the preferred bidder for the potential takeover, appears to base its estimate of the total cost on the stock price, as the figure equates to the market capitalization of the company. business,” the Kyodo news agency quoted. source as said.

Nonetheless, Japan Industrial Partners Inc. missed the Nov. 7 deadline to secure funding from major banks, and in agreement with Kyodo, this “leaves it uncertain whether funds can be secured for the takeover estimated at some 2.2 trillion yen in total”.

JIP’s group reportedly considered buying Toshiba at a valuation of around 2.4 trillion yen ($16.2 billion) and is seeking around 1.4 trillion yen from banks.

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