Toshiba says to sell air-conditioner business, in prelude to restructuring

TOKYO :Toshiba Corp said on Monday it will sell almost all of its 60per cent stake in its air conditioning unit to its U.S. joint venture partner for $870 million, ahead of an expected rejig of a turnaround plan that has rankled investors.

Toshiba is set to announce a plan to split into two companies, not three, at the event and will likely see angry pushback from foreign shareholders.

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