Business

Is Toshiba for sale? More than $ 20 billion offered

Japanese tech giant Toshiba has announced that it has received an offer to buy from private equity firm CVC Capital Partners, which could be worth more than $ 20 billion upon completion.

According to the Wall Street Journal report, Toshiba stated that it will ask CVC Capital Partners for more details and will consider the offer carefully.

MARKET VALUE OF 15.8 BILLION DOLLARS

According to stock market data, Toshiba’s market value stood at just over 1.7 trillion yen (US $ 15.8 billion) as of Tuesday’s close, while Japanese newspaper Nikkei said CVC offered a 30 percent premium to Toshiba for just over $ 20 billion. He suggested that he would appreciate it too much.

While CVC Capital Partners declined to comment on the matter, Toshiba’s shares on the Tokyo Stock Exchange were not traded on Wednesday morning due to the large number of buy orders even at the upper end of the trading range. of the day.

EXECUTIVE BOARD DETAIL

Underlining that Toshiba CEO Nobuaki Kurumatani could be effective regarding the sale, it was underlined that Kurumatani served as a director of CVC’s Japanese unit before joining Toshiba.

Toshiba has shrunk significantly since the accounting scandal broke in 2015. While the company sold most of its shares in the flash drive, it stopped producing products in many areas.

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