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Toshiba signs memorandum to accelerate chip sale talks with Bain group

Reuters  |  TOKYO 

TOKYO (Reuters) - Corp said on Wednesday it has signed a memorandum to accelerate talks to sell its memory chip business to a group led by private equity firm Bain Capital and chipmaker SK Hynix Inc.

said in a statement it now aims to sign a contract by late September but added that the memorandum does not exclude talks with other bidders.

The embattled conglomerate said late last month it was continuing to talk with three suitors - the group led by Bain Capital, as well as those led by Western Digital and by Taiwan's Foxconn, formally known as Hon Hai Precision Industry Co.

(Reporting by Makiko Yamazaki; Editing by Edwina Gibbs)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Wed, September 13 2017. 13:01 IST
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