Toshiba plans to sell 16% stake in Westinghouse
Toshiba Corp., the Japanese conglomerate that controls Westinghouse Electric Co., is in talks with three parties to sell up to 16 percent of the nuclear power company. Such a deal would raise about $875 million for Toshiba, which in 2006 bought a 77 percent stake in the Cranberry-based company but lately has seen revenue from other Toshiba businesses fade.
President Norio Sasaki said Toshiba prefers to sell to a partner that would help Westinghouse sell deeper into key markets, such as China and India, according to the Wall Street Journal. Westinghouse employs about 6,000 in this area. Toshiba's stake in Westinghouse will rise to 87 percent on Jan. 4 when Shaw Group sells its 20 percent interest in the company to Toshiba.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Shale gas violations down as DEP steps up inspections
- Trib Total Media puts 9 Western Pa. newspapers up for sale
- Protecting your identity from hackers
- Pa. business interests decry EPA ozone proposal as economic albatross
- Stock market looks calm compared to oil
- U.S. stocks bounce back from precipitous drop
- Housing bright spot as Beige Book survey shows Pittsburgh region’s growth slight