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Toshiba in talks to sell its white goods business to Midea Group: Nikkei

Published 03/14/2016, 10:15 PM
© Reuters. The logo of Toshiba Corp is seen at its headquarters in Tokyo
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(Reuters) - Japanese industrial conglomerate Toshiba Corp (T:6502) said it is in late-stage talks to sell its white goods business to Chinese household appliance giant Midea Group Co Ltd <000333.SZ>, Nikkei reported on Monday.

The deal is expected to fetch tens of billions of yen, the Japanese business daily reported.

Toshiba said in a statement the company was negotiating with other companies about restructuring its white goods business, but nothing had been decided.

© Reuters. The logo of Toshiba Corp is seen at its headquarters in Tokyo

Toshiba granted Canon Inc (T:7751) exclusive negotiating rights for its medical equipment unit, earlier this month, after a hotly contested auction, with a report putting Canon's offer at more than $6 billion.

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