CVC lets deadline pass for submission of detailed Toshiba buyout plan

Politics Economy

British private equity firm CVC Capital Partners did not submit a more detailed proposal to buy Japanese industrial conglomerate Toshiba Corp. by Friday, a rough deadline set by the fund, sources with knowledge of the matter said Saturday. CVC made a preliminary buyout proposal on April 6, saying it would provide more details in around 10 days. Toshiba will postpone discussions on the buyout proposal at its board of directors' meeting slated for Monday, according to the sources. The abrupt resignation on Wednesday of Toshiba President and CEO Nobuaki Kurumatani has apparently forced CVC to rew...

Kyodo News

Kyodo News