Toshiba says sells chip unit to Bain Capital for around $18 bn

Toshiba said today it would sell its memory chip business to a group led by US investor Bain Capital, in a deal worth around USD 18 billion and seen as crucial to keeping the Japanese conglomerate afloat.

The sale to the consortium -- which includes US tech giants Apple and Dell as well as South Korean chipmaker SK Hynix -- caps a months-long saga that saw heated courtroom battles, rival bids and the near-delisting of one of Japan's best-known firms.