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Chinese authorities give Toshiba permission to sell chip devision
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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schmidtbag
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#5547714 Posted on: 05/17/2018 05:28 PM
All this time I thought Toshiba was Japanese...
All this time I thought Toshiba was Japanese...
Kaarme
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#5547719 Posted on: 05/17/2018 05:42 PM
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.
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
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#5547720 Posted on: 05/17/2018 05:46 PM
Me too
All this time I thought Toshiba was Japanese...
Me too
valentyn0
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#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.
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.
airbud7
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#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.
Toshiba signed a $1.2 billion settlement with my electric provider (SCE&G) for failed nuclear reactor project.
sverek
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Posts: 4030
Joined: 2011-01-02
#5547816 Posted on: 05/18/2018 02:42 AM
Yeah, you right. Iforgot didn't realize how they tossing stock on left and right, buying and selling other companies.
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
Irenicus
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#5547825 Posted on: 05/18/2018 03:24 AM
**Division**
**Division**
sykozis
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#5548143 Posted on: 05/19/2018 02:25 AM
With Bain Capitol buying Toshiba, that's exactly what will happen...
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.
With Bain Capitol buying Toshiba, that's exactly what will happen...
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Glad for them. Toshiba could use some cash to regain financial balance.