Toshiba Completes Sale of Memory Business to Bain Consortium
Toshiba Corporation of Tokyo, Japan, announced today that it’s completed the sale of its memory-chip business, Toshiba Memory Corporation, to a consortium led by Bain Capital for $18 billion (2 trillion, 300 million yen). However, after the sale was completed, Toshiba purchased approximately 40 percent of Toshiba Memory.
Toshiba had put Toshiba Memory – the world’s second-largest producer of NAND memory chips – up for sale last year as a result of billions of dollars massive overruns at its U.S. Westinghouse nuclear unit.
The Bain-led consortium includes Apple Inc., SK Hynix, Dell, Seagate Technology, and Kingston Technology.
As a result of the sale, Toshiba will record a profit of approximately 970.0 billion yen (before taxes) in its fiscal 2018 year financial results.
- May 2018: Toshiba Reports Results for Fiscal Year
- May 2018: Stellar Fiscal Year for Toshiba TEC
- April 2018: Toshiba Completes Sale of Westinghouse to Brookfield
- March 2018: Sale of Toshiba’s Memory Business Delayed
- January 2018: Toshiba Finds Buyer for Westinghouse Nuclear-Power Business
- November 2017: Toshiba Seeking to Sell TV Business to Chinese Company for $114 Million
- November 2017: Toshiba Reports Loss for Half, but Memory Business Records Strong Performance
- October 2017: Toshiba Revises Forecast, Expects Net Loss of Almost $1 Billion
- September 2017: Western Digital Seeks Injunction to Stop Sale of Toshiba’s Memory Business
- September 2017: Toshiba Says it Will Sell Memory Business to Consortium Led by Bain Capital