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Toshiba confirms $20bn buyout bid from equity fund

Added 04-06-21 11:04:02pm EST - “The scandal-hit Japanese electronics giant has received an offer from CVC Capital Partners.” - News.yahoo.com

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Posted By TheNewsCommenter: From News.yahoo.com: “Toshiba confirms $20bn buyout bid from equity fund”. Below is an excerpt from the article.

Japanese conglomerate Toshiba has received a buyout offer from a global private equity fund in a deal that could be worth about $20bn (£14.5bn).

The scandal-hit firm's shares were temporarily halted on Tokyo's stock exchange after it confirmed the bid by CVC Capital Partners.

If successful, it will allow Toshiba to focus on renewable energy and other core businesses, reports suggested.

The conglomerate has been at the centre of a number of scandals in recent years, including false accounting and huge losses linked to its US nuclear unit.

Toshiba's chief executive and president Nobuaki Kurumatani confirmed the offer from CVC Capital Partners - his former employer - on Wednesday, adding that "we'll discuss it in a board meeting."

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