TOKYO, Sept 18 (Reuters) - Chubu Electric Power Co
said on Sunday it is joining private equity firm Japan
Industrial Partners (JIP) in conducting due diligence for a
potential buyout of Japanese conglomerate Toshiba Corp.
Toshiba, which is exploring going private and other options,
has selected Bain Capital, CVC Capital Partners, Brookfield
Asset Management and a consortium involving JIP and state-backed
Japan Investment Corp to proceed to a second bidding round.
JIP has contacted more than 10 companies including Chubu
Electric, Orix Corp and Central Japan Railway Co (JR
Central) to participate in its consortium, the Nikkei
newspaper reported on Sunday.
Orix said it was considering investing in Toshiba, without
providing details. Toshiba said it does not comment on
candidates for the potential buyout. JR Central did not
immediately respond to a request for comment.
(Reporting by Mariko Katsumura, Sam Nussey, Makiko Yamazaki,
Ritsuko Shimizu and Junko Fujita; Editing by Alex Richardson,
Christian Schmollinger and William Mallard)