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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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: 6479
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: 2887
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: 130
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: 140
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.

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