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Toshiba Corp said on Wednesday that it had received an acquisition offer from CVC Capital Partners.
The Japanese industrial company said it would seek further details on the offer and consider it carefully.
The offer comes as some of Toshiba’s shareholders have questioned the company’s corporate governance over the past few months.
PRIVATE EQUITY CASH REACHES RECORD $ 1.5 ton
In March, the shareholders approved a proposal from Effissimo Capital Management Pte., A major shareholder in Toshiba, and suggested that investigators be appointed to investigate whether the shareholders’ meeting was conducted fairly last year.
Foreign shareholders have been playing a growing role at the Japanese conglomerate since raising billions of dollars in 2017 to bolster the balance sheet following the bankruptcy of its US nuclear subsidiary, Westinghouse Electric Co.
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Nobuaki Kurumatani, CEO of Toshiba, served as chairman of the Japanese unit of CVC before joining the company.
According to S&P Global Market Intelligence, Toshiba had a market capitalization of 1.738 trillion yen ($ 15.84 billion) as of Tuesday.