Toshiba: CVC's Initial Proposal Conditional; Financing Process Involve Complexity For Consideration

Toshiba Corp. (TOSYY.PK,TOSBF.PK) stated that CVC's initial proposal is conditional on a variety of matters such as clearances of the Anti-trust registrations, the Foreign Exchange and Foreign Trade Act of Japan and necessary financing. Toshiba believes this financing process would require a substantial amount of time and involve complexity for consideration.

The company noted that the proposal does not go through detailed review of Toshiba business. Toshiba said its Board will conduct careful review of the initial proposal when it is further clarified in the future.

On April 7, Toshiba said it received a preliminary initial proposal from CVC Capital Partners regarding the acquisition of Toshiba.

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