Toshiba receives buyout offer from British private equity fund worth £14.5bn
Global tech giant Toshiba Corp is considering a £14.5bn buyout offer from UK-based private equity firm CVC Capital Partners to take it private.
The Japanese firm has had a tumultuous few years, and has recently faced new pressure from activist shareholders to improve the governance of the company.
The proposed deal, which comes less than a month after shareholders approved an independent probe into the scandal-hit tech company.
A statement from the firm read: “Toshiba received an initial proposal yesterday, and will ask for further clarification and give it careful consideration.”
No further information was given, but discussions are set to continue later today.
Toshiba’s board includes CEO Nobuaki Kurumatani, who joined Toshiba from CVC, and Yoshiaki Fujimori, another senior advisor at the private equity firm.
CVC is an international private equity firm with more than $160bn in funds across the world, managing more than 300 international investors. Although headquartered in Luxembourg, its main office is in London.