Toshiba Corp. to Sell Majority Stake in Air-Conditioner JV to Partner Carrier for Y100 Billion
07 February 2022 - 2:11PM
Dow Jones News
By Kosaku Narioka
Toshiba Corp. on Monday said it will sell a 55% stake in its
air-conditioner joint venture to partner Carrier Global Corp. for
about 100 billion yen ($868.1 million) in a bid to restructure its
business portfolio.
The Japanese industrial company said Toshiba Carrier Corp. will
continue to produce and sell Toshiba-branded air conditioners
globally even as its stake in the joint venture will fall to 5%
from 60%.
The sale transaction is expected to be completed by the end of
September, subject to regulatory approvals, Toshiba said.
Toshiba said Friday that it was considering breaking up into two
separate companies, revising its earlier plan for a three-way
split. Toshiba said it planned to announce further details at an
investor meeting to be held Monday and Tuesday.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
February 06, 2022 21:56 ET (02:56 GMT)
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