Toshiba Reports on Sale of Memory-Chip Business
Toshiba Corporation of Tokyo, Japan, reported today that it’s received all required anti-trust approvals for the $18 billion sale of Toshiba Memory Corporation. Back in September 2017, Toshiba had reported that it was selling its memory-chip business to a consortium led by private-equity firm Bain Capital Private Equity.
Toshiba expects to complete the sale on June 1, 2018.
The company noted that its forecast for its fiscal year ending in March 2019 assumes the completion of the sale in the first quarter of the fiscal year.
Toshiba Memory Corporation is the world’s number-two producer of NAND memory chips. Toshiba put the business up for sale last year after incurring losses from its Westinghouse nuclear-power business.
More Resources
- 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
- August 2017: Troubled Toshiba Said to be Close to Selling Memory-Chip Business (Updated)
- August 2017: Toshiba Reports $8.8 Billion Loss for Fiscal Year
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