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Toshiba in turmoil

Japan Industrial Partners, Bain advance in bidding for Toshiba

Blackstone out of the running, while KKR did not bid, sources say

The Japanese conglomerate had received a total of 10 proposals by its deadline at the end of May.   © Reuters

TOKYO -- Japan Industrial Partners and Bain Capital are among the investors invited to a second round of bidding for Toshiba, Nikkei has learned.

Brookfield Asset Management and CVC Capital Partners also were picked to move forward at Toshiba's board meeting on Tuesday. Japan Industrial Partners submitted a joint bid with state-backed Japan Investment Corp.

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