Deals
Toshiba Mulls a Swiss IPO for Landis+Gyr by September
- The power metering firm was said to have been for sale
- A sale remains one of the options on the table, Toshiba says
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Toshiba Corp. is considering an initial public offering in Switzerland for energy metering company Landis+Gyr AG by the end of September, raising much-needed cash to bankroll its turnaround.
Landis+Gyr, which makes gear to track household power consumption, is one of several assets Toshiba has put up for sale as it tries to make up for multibillion dollar losses at its Westinghouse nuclear energy unit. The company selected a Japanese-led group last month as preferred bidders for its prized memory chip business.