Toshiba President and CEO
The review team is led by Senior Executive Vice President
Kurumatani said the organization excludes interested parties on Toshiba's board, including himself who served as chairman of CVC's
"We expect that such a financing process would require a substantial amount of time and involve complexity for consideration," Nagayama said in a statement.
Toshiba's shares closed Friday at
CVC'S plan needs approval from antitrust authorities, while the Japanese government would scrutinize the proposal as Toshiba has sensitive businesses including nuclear power and defense operations in terms of national security.
"This initial proposal by CVC was completely unsolicited and not initiated by Toshiba by all means. The proposal does not go through a detailed review of Toshiba's business," Nagayama said.
==Kyodo
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