Toshiba completed $18 billion chip unit sale to Bain Capital

Tinuku - Toshiba Corp. on Friday announced it had completed a $ 18 billion chip unit sale to a consortium led by Bain Capital. The settlement of the agreement originally intended at the end of March has been postponed pending review by Chinese antitrust authorities.

Tinuku Toshiba completed $18 billion chip unit sale to Bain Capital

China approved the deal last month in which the Minato giant could finalize a deal with Bain Capital backed by SK Hynix, Apple Inc., Dell Technologies, Seagate Technology and Kingston Technology. The announcement also said Toshiba will buy back 40 percent of the units sold.

The Bain consortium last year won a long and highly controversial battle for Toshiba Memory as a business unit that produces the world's number 2 NAND chip. Toshiba put the business up for sale after billions of dollars in cost swelling in the Westinghouse nuclear unit that had plunged it into crisis.

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