October 10, 2012 / 12:35 AM / 5 years ago

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

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

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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