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TOSHIBA CORP In Talks With Three Firms To Sell Part Of Westinghouse Stake Including Chicago Bridge and Iron Company NV; To Buy Back 20% from The Shaw Group Inc-Reuters


Thursday, 27 Dec 2012 03:25am EST 

Reuters reported that TOSHIBA CORP is in talks with three parties, including U.S. engineering firm Chicago Bridge and Iron Company NV to sell a portion of its stake in its nuclear power unit Westinghouse. Toshiba CEO Norio Sasaki told Dow Jones Newswires in a interview that the firm is in discussions to sell up to a 16% stake in Westinghouse, in which the Japanese company currently owns a 67% stake. Toshiba is also set to buy back 20% of Westinghouse from Louisiana-based The Shaw Group Inc by January, bringing its total holdings to 87%. 

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