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Toshiba inks $18-bn deal to sell chip arm

Toshiba is under pressure to raise money by March to pay for billions of dollars in losses in its US nuclear business

Jeff Green & Jamie Butters | Bloomberg 

Toshiba signed a final agreement to sell its flash memory chip business to a group led by Bain Capital for about 2 trillion yen ($18 billion), moving a step closer to completing the deal after months of contentious negotiations. The Bain consortium includes major technology players Apple, Dell, SK Hynix and Japan’s Hoya, while Toshiba itself will maintain a stake, the company said in a statement Thursday. The total value of the transaction may change depending on capital expenditures. The deal is aimed at keeping control of an important business in Japan, while securing the ...

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First Published: Fri, September 29 2017. 02:41 IST