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

15 Mar, 2016 9:17 am

TOKYO – Japanese industrial conglomerate Toshiba Corp said it is in late-stage talks to sell its white goods business to Chinese household appliance giant Midea Group Co Ltd, 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.

Toshiba granted Canon Inc 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. -Reuters

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