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Western Digital-led group offers $17.4 bn for Toshiba chip unit

Western Digital is set to offer 150 bn yen through convertible bonds and will not seek voting rights

Reuters  |  Tokyo 

A consortium that includes Western Digital is offering 1.9 trillion yen ($17.4 billion) for Toshiba Corp's memory chip business, which the Japanese conglomerate is trying to sell to cover losses from its US nuclear business, sources said on Thursday. Western Digital is set to offer 150 billion yen through convertible bonds and will not seek voting rights in the business, the sources who were familiar with the deal said. The consortium also includes the US private equity firm KKR & Co as well as the state-backed Innovation Network Corp of Japan and Development Bank of ...

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First Published: Fri, August 25 2017. 01:59 IST
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