Toshiba Sale is Postponed as Banks Refuse to Provide Financing

The acquisition of Toshiba Corp., which may be the largest acquisition in Asia this year.

Is at risk of falling behind schedule as the competing consortia have difficulties obtaining bank funding pledges.

According to persons with knowledge of the situation, it will be challenging for the consortium led by Japan Industrial Partners Inc. .

A competing group formed by the government-backed investment fund Japan Investment Corp. to reach a deadline of Nov. 7 for gathering commitment letters.

In light of growing borrowing prices in the US and abroad, several international banks have become apprehensive about supporting significant buyouts like Toshiba, the sources said.

Even in Japan, where the central bank maintains a liberal monetary policy, inflation has risen.


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