Toshiba reaches deal to help resolve Westinghouse bankruptcy, rebuild finances

Toshiba Corp said on Thursday it had clinched an agreement to sell its claims in bankrupt US nuclear plant maker Westinghouse Electric Co in a deal that would add $3.7-billion to the Japanese owner’s depleted capital base. The Japanese conglomerate has also agreed to transfer its Westinghouse-related shares to Canada’s Brookfield Business Partners , which earlier this month agreed to buy the unit for $4.6-billion – money that will be used to repay the nuclear plant maker’s creditors.