Japanese conglomerate Toshiba Corporation has received a buyout offer from, CVC Capital Partners, a British private equity fund in a deal that could be worth about $20 billion.

“Toshiba received an initial proposal yesterday (Tuesday) and will ask for further clarification and give it careful consideration,” Toshiba said in a statement.

“The company will make a further announcement in due course.”

Toshiba is one of Japan’s largest firms whose business empire stretches from home electronics to nuclear power stations. 

Khusoko provides market insights into Africa's business investment as well as global trends that impact East African businesses.

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