Shares in Toshiba closed at a two-month high on Friday after the Japanese electronics group sold Westinghouse, its US nuclear engineering business.
Canadian asset manager Brookfield acquired Westinghouse Electric Company in a deal worth $4.6bn. The purchase was expected to be funded with about $1bn of equity and about 4£bn of long-term debt, with the balance to come from "operating obligations".
Westinghouse filed for bankruptcy protection in the US last March and was largely responsible for Toshiba's subsequent decision to sell a number of key assets, including its highly-prized memory chip division.
Brookfield has $15.9bn in assets under management specialising in energy, construction and other industrial operations.
Cyrus Madon, chief executive of Brookfield Business Partners, said: "Westinghouse is a high-quality business that has established itself as a leader in its field, with a long-term customer base and a reputation for innovation.
"We look forward to bringing our significant expertise and reputation as a long-term owner and operator of critical infrastructure in the US and globally, as well as our deep facilities management capabilities, to enhance the company’s position as a leading global infrastructure services provider to the power generation industry."
The sale remained conditional on approval from the bankruptcy court and global regulators.
Shares in Toshiba closed at a two-month high, up 2.8% to Y330.50 on the Tokyo Stock Exchange.