Westinghouse Electric Co. has fielded interest from those looking at buying Toshiba Corp.’s majority stake in the bankrupt U.S. nuclear contractor and expects to begin a sale process in late summer, according to Westinghouse’s interim chief executive officer, Bloomberg News reported yesterday. While Westinghouse has already received interest, it’s too early to be having conversations with potential buyers, interim CEO Jose Emeterio Gutierrez said yesterday. The sale process will begin after Westinghouse gains approval of a business plan that it expects to file in bankruptcy court in early July, he said. Tokyo-based Toshiba put Westinghouse into bankruptcy on March 29 and has warned it may not be able to continue as a going concern because of losses from the business. “We will start in late summer the process to sell the company,” said Gutierrez, adding that it’ll be part of a “very structured process” and that the company expects it’ll be sold before exiting bankruptcy or at the time of emerging.
