Chinese authorities give Toshiba permission to sell chip devision

by Hilbert Hagedoorn on: 05/17/2018 04:07 PM | source: | 9 comment(s)

The sale of Toshiba's NAND chip division can be completed as Chinese regulators have now also given permission for the sale to consortium investor Bain Capital. The acquisition involves more than 15 billion USD/Euro, an amount earlier agreed on back in September.

One of the conditions was that a conflict between Toshiba and Western Digital would be resolved, both parties reached an agreement late last year, whcih cleared the path for this takeover. Toshiba placed the crown-jewel chip division on sale to improve their financial situation. Depreciation on their activities in the field of nuclear energy have dragged them down in relation to the company's balance sheet. The consortium is based on multiple players like Apple, Seagate, SK Hynix and Hoya.

Toshiba will sell its nand-memory division within two weeks, the sale must be completed on June 1.

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airbud7
Senior Member

Posts: 7835
Joined: 2011-07-20

#5547781 Posted on: 05/17/2018 10:32 PM

Toshiba signed a $1.2 billion settlement with my electric provider (SCE&G) for failed nuclear reactor project.

sverek
Senior Member

Posts: 6073
Joined: 2011-01-02

#5547816 Posted on: 05/18/2018 02:42 AM

Seeing how its selling the best part of itself, I wonder how it's going to regain anything. These zaibatsus don't like to give up totally and go under, but it wouldn't surprise me if a bunch of years from now Toshiba was nothing but a loose brand some other company bought to label their own products with, to make them more well-known.

Yeah, you right. I ~~forgot~~ didn't realize how they tossing stock on left and right, buying and selling other companies.

Irenicus
Senior Member

Posts: 582
Joined: 2015-05-03

#5547825 Posted on: 05/18/2018 03:24 AM

**Division**

sykozis
Senior Member

Posts: 21991
Joined: 2008-07-14

#5548143 Posted on: 05/19/2018 02:25 AM

With Bain Capitol buying Toshiba, that's exactly what will happen...

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