Toshiba sells its nand-memory division within two weeks

May

17

2018

Toshiba can sell its nand-memory division within two weeks to a consortium of companies led by investor Bain. The Chinese government has approved the transaction as the last authority.

The sale must be completed on June 1, reports Toshiba . A consortium led by investment company Bain, which also includes Apple, Dell and SK Hynix, buys Toshiba ‘s memory division for approximately fifteen billion euros.

The fact that the Chinese authorities have approved the deal involving US companies such as Bain and Apple raises the expectation that China will also soon approve the acquisition of Dutch NXP by American Qualcomm, claims Reuters . Qualcomm is still waiting for Chinese approval.

The deal between Toshiba and the consortium came about last year after a lengthy bidding process. Western Digital, which has a joint venture with Toshiba, wanted to stop sales . Meanwhile the company has stopped its resistance.

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