$20bn bid by gambling portfolio for Toshiba

Home » $20bn bid by gambling portfolio for Toshiba

Major private equity company CVC Capital Partners, with many interests in the gambling industry, is making a surprise bid for the troubled Japanese electronics giant Toshiba.

The news yesterday sent Toshiba shares climbing, as the CVC bid could be worth around $20bn, if successful.

CVC has in its portfolio Magnum Corporation, the lottery operator, Sisal the betting, gaming and payments company, SkyBet and Tipico, both sports betting and online gambling businesses. It has $117bn of assets and around $160bn in committed funds.

Toshiba has been hit by scandals in recent times and upon news of the bid its shares on the Tokyo Stock Exchange were suspended.

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