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Business deals

Toshiba buyout bid faces hurdles, including CVC conflict of interest

Private equity suitor needs to find partner investors and win over shareholders

Toshiba CEO Nobuaki Kurumatani once chaired CVC's Japanese operations, raising concerns about conflicts of interest in the acquisition proposal.   © Kyodo

TOKYO -- The $20 billion buyout offer for Toshiba by CVC Capital Partners gives the Japanese conglomerate a chance to part ways with activist investors and focus on growth strategy. But the deal faces a number of hurdles involving investors, management and regulators.

Toshiba confirmed Wednesday that it received an "initial" proposal from the global private equity firm. "Discussions have only just begun," a company executive said after a board meeting Wednesday morning.

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