Toshiba Corporation (TSE:6502) agreed to acquire an additional 20% stake in Westinghouse Electric Company, LLC from Nuclear Energy Holdings, LLC for ¥125 billion in cash on October 6, 2012. Nuclear Energy Holdings exercised its put option to sell 20% stake. The acquisition will be financed through cash and loans. Proceeds from the sale will be used to repay Nuclear Energy Holding's outstanding bond. The transaction is expected to close by January 2013. JPMorgan Chase & Co. acted as financial advisor to Toshiba.

Toshiba Corporation (TSE:6502) completed the acquisition of an additional 20% stake in Westinghouse Electric Company, LLC from Nuclear Energy Holdings, LLC on January 4, 2013.