Toshiba Memory buys back shares from Apple, Dell, Seagate and Kingston

by Hilbert Hagedoorn on: 05/21/2019 07:36 AM | source: WSJ and Tweakers | 2 comment(s)

Toshiba has been under a lot of stress and had problems to cover billions in losses at its bankrupt U.S. nuclear business Westinghouse, things went so bad that a plan was needed and they sold the NAND division to a consortium called Bain capital. Well, things have reached a turning point.

Investment company Bain Capital remains the most important shareholder, followed by Toshiba. After the sale of their shares, Apple, Dell, Kingston and Seagate will have earned several hundred million dollars in the transaction. Toshiba Memory can buy back the shares through a loan from Japanese banks. Ultimately, Toshiba former nand division wants to go to the stock exchange in Japan at the end of this year or at the beginning of next year.

Apple, Dell, Kingston and Seagate joined Bain in a consortium to be able to purchase Toshiba's neighboring department so Western Digital could not do that. In addition to the four American companies, SK Hynix is also in the consortium that purchased Toshiba Memory shares.

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Kaarme
Senior Member

Posts: 2409
Joined: 2013-03-10

#5671342 Posted on: 05/21/2019 08:45 AM

Good news. At least Toshiba didn't go totally under as a result of the destruction of the traditional US nuclear industry.

schmidtbag
Senior Member

Posts: 5899
Joined: 2012-11-10

#5671609 Posted on: 05/21/2019 08:48 PM

I wasn't aware Toshiba had anything to do with the US nuclear industry. Also, what exactly do Apple and Dell have against Western Digital?

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