Toshiba to buy Shaw's stake in Westinghouse for $1.6 billion

TOKYO Tue Oct 9, 2012 8:31pm EDT

A logo of Toshiba Corp is pictured as a man looks at laptop computers at an electronics shop in Tokyo July 31, 2012. REUTERS/Yuriko Nakao

A logo of Toshiba Corp is pictured as a man looks at laptop computers at an electronics shop in Tokyo July 31, 2012.

Credit: Reuters/Yuriko Nakao

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TOKYO (Reuters) - Toshiba Corp (6502.T) said on Wednesday that it plans to buy Shaw's 20 percent stake in nuclear power plant company Westinghouse Electric Co for about 125 billion yen ($1.6 billion) within 90 days, using cash on hand and loans.

Toshiba said it would pursue talks with a number of firms that have expressed interest in taking a minority stake in Westinghouse.

(Reporting by Tokyo Newsroom)

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