TOKYO -- Toshiba will buy back a 10% stake in Westinghouse Electric for about 59 billion yen ($522 million), the Japanese conglomerate said Tuesday, under an option exercised by the Kazakh state-run nuclear power company that bought the shares a decade ago.
In a notice dated Monday, Kazatomprom told Toshiba it will exercise a put option allowing the state-run business to sell the stake back to the Japanese company as of Oct. 1. The transaction is to take place Jan. 1.
