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News Breaks
January 15, 2014
06:19 EDTTOSBFToshiba to take 60% share in NuGen Moorside Project in the UK
Toshiba announced that it has reached agreements with GDF SUEZ of France and Iberdrola of Spain to take a 60% stake in NuGeneration Limited, the UK-based nuclear energy company which plans to develop nuclear power plants at the Moorside site in West Cumbria, Northwest England. As the majority owner of NuGen, Toshiba, in collaboration with its group company, Westinghouse Electric Company, intends to move forward with the construction of three AP1000 nuclear reactors on the Moorside site, in partnership with GDF SUEZ, a leading European nuclear operator. Under an agreement with Iberdrola dated December 21, 2013, Toshiba will purchase all of Iberdrolaís indirect 50% holding in the project. Under a separate agreement reached in January 2014 with GDF SUEZ, Toshiba will purchase a further 10% holding in the project giving Toshiba a 60% stake in NuGen. The provisional total purchase price of 102 million pounds sterling is subject to adjustment, as is customary in such major transactions, while final agreements are subject to obtaining the relevant authorisations and consents and other required processes. Toshiba aims to complete the overall transaction within the first half of calendar year 2014. NuGenís Moorside project focuses on the development of a new generation nuclear power station and represents a major investment in the future, and in supporting the UK to meet the challenges of securing a stable, affordable, future energy supply and cutting CO2 emissions. The three AP1000 units to be built on the site, developed by Westinghouse, will have a combined capacity of 3.4 gigawatts. Building on this major development, Toshiba and Westinghouse will seek further opportunities to build AP1000 reactors in Europe and other key geographies.
News For TOSBF From The Last 14 Days
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February 9, 2016
06:28 EDTTOSBFINCJ pitches Sharp on intention for smart home-appliance giant, Bloomberg says
Innovation Network Corp. of Japan is trying to pitch Sharp's (SHCAY) board on intentions to establish a Japanese smart home-appliances giant, Bloomberg reports, citing people with knowledge of the matter. The move is an effort from the state-backed fund to convince Sharp to accept its bailout offer over a rival offer from Foxconn (HNHPF), the report says. INCJ also is preparing an offer for Toshiba's (TOSBF) white-goods business, which it would then combine with Sharp, the report says. Reference Link
February 4, 2016
11:33 EDTTOSBFSamsung postpones investment in Xi'an semi plant, BusinessKorea says
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06:37 EDTTOSBFToshiba to purchase land to expand flash memory output, DigiTimes reports
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January 27, 2016
06:53 EDTTOSBFKKR, Bain, Fujifilm to make offers for Toshiba Medical, Reuters reports
KKR (KKR), Bain Capital, and Fujifilm (FUJIY) are among possible bidders for a medical equipment unit of Toshiba (TOSBF) in a deal that could be valued as high as $3B, Reuters reports, citing people familiar with the process. Reference Link

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