Dozens of investment funds and companies, including KKR and Bain Capital, are showing interest in Tokyo Electric Power’s capital alliance plan as part of its business turnaround, the Asahi newspaper reported on Wednesday.
The utility giant, which began soliciting proposals in February, has asked potential partners to submit concrete offers by the end of March and aims to choose a partner by the end of this year, Asahi reported, citing people familiar with the deal.
TEPCO intends to keep the Japanese government’s majority voting stake unchanged, but is open to taking the company private as part of the restructuring, the report said.
U.S. investment firms KKR and Bain, along with Japan Industrial Partners (JIP) and Japan Investment Corporation (JIC), are among those that have expressed interest, it said.
Reuters
