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.

Related Stories

Samsung and Chinese government likely to sign agreement in effort the lower DRAM prices - 02/07/2018 06:29 PM
It's kind of awkward to see that the Chinese government is involved in this and needs to be involved in this, but hey it's a good thing. The DRAMeXchange reports that Samsung and the Chinese governm...

Chinese www.fashaoyou.net website steals content from hardware websites - 08/07/2014 10:27 AM
Thief alert - In this post I like to warn webmasters and websites out there that a website called fashaoyou.net steals content from hardware review websites, they rewrite the content, steal the photo...

U.S. Navy Bought 59000 Fake Chinese Microchips - 07/03/2011 04:33 AM
Yikes -- Last year, the U.S. Navy bought 59,000 microchips for use in everything from missiles to transponders and all of them turned out to be counterfeits from China. Wired reports the chips weren't...

Fastest Chinese SuperComputer is spicy alright - 11/15/2010 12:53 PM
China has built the world's fastest supercomputer, the Tianhe-1A, which is capable of 2.57 quadrillion computing operations per second, pulling ahead of the United States in the global supercomputing ...

Intel attempts to cut Atom supply to Chinese knockoff netbook makers - 05/08/2009 09:20 AM
Trading Markets wrote Intel is going to implement rigid monitoring over the supply of its Atom processors in China, to prevent that knockoff netbook manufacturers get their hands on the processor.The ...

2 pages 1 2

sverek

Posts: 6073
Joined: 2011-01-02

#5547701 Posted on: 05/17/2018 04:56 PM

Glad for them. Toshiba could use some cash to regain financial balance.

schmidtbag
Senior Member

Posts: 5809
Joined: 2012-11-10

#5547714 Posted on: 05/17/2018 05:28 PM

All this time I thought Toshiba was Japanese...

Kaarme
Senior Member

Posts: 2353
Joined: 2013-03-10

#5547719 Posted on: 05/17/2018 05:42 PM

Glad for them. Toshiba could use some cash to regain financial balance.

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.

GetMax
Senior Member

Posts: 123
Joined: 2011-12-05

#5547720 Posted on: 05/17/2018 05:46 PM

All this time I thought Toshiba was Japanese...

Me too

valentyn0
Senior Member

Posts: 134
Joined: 2011-11-20

#5547750 Posted on: 05/17/2018 08:20 PM

Toshiba was always (at first) a japanese company, nowadays most do become multinational conglomerate so more countries do have a say in situations like this.

2 pages 1 2

Post New Comment

Click here to post a comment for this news story on the message forum.