You are here: Home » Reuters » News
Business Standard

Exclusive: Baupost expected to make quick profit in Westinghouse bankruptcy - sources


By Jessica DiNapoli and Tom Hals(Reuters) - Hedge funds led by the Baupost Group LLC are poised to score a $170 million profit in less than three months from a bet tied to Toshiba Corp's bankrupt nuclear unit Westinghouse Electric Corp, according to three people familiar with the matter.Baupost and GSO Capital Partners LP, the credit arm of private equity firm Blackstone Group LP, in September bought at a discount claims South Carolina utilities had against Toshiba stemming from nuclear projects Westinghouse failed to finish. The funds expected to be repaid over five years. But Toshiba on ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Wed, December 06 2017. 11:38 IST