Toshiba says sells chip unit to Bain Capital for around $18 bn
- Economy
- AFP
- Published Date: 12:00 AM 20 September 2017
- Updated Date: 04:03 PM 20 September 2017
Toshiba said Wednesday it would sell its memory chip business to a group led by US investor Bain Capital, in a deal worth around $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.
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