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    Home»Deals»Toshiba & CVC: What we know so far
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    Toshiba & CVC: What we know so far

    April 12, 20211 Min Read
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    Toshiba, currently courted by numerous PE groups, confirmed it has ‘received an initial proposal’ from CVC this week and will ‘ask for further clarification and give it careful consideration’, in what looks like a process which could become Japan’s largest ever buyout deal.

    Toshiba issued a statement on 9 April saying that the initial proposal is conditional on clearance of anti-trust regulation, as well as the Foreign Exchange and Foreign Trade Act of Japan, and necessary financing.

    The corporation also said that the proposal involved seeking finance assistance from co-investors and financial institutions in pursuing the proposed transaction. “We expect that such financing process would require a substantial amount of time and involve complexity for consideration,” it concluded.

    CVC’s interest in the company sent the Tokyo-based Japanese multinational conglomerate’s shares surging on the back of the news, and trading of Toshiba shares was stopped on Tokyo’s stock exchange when it opened after the company confirmed the offer.

    Read more/Source: Private Equity Wire

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