Toshiba has signed an agreement to sell its memory chip business to a Bain-led consortium, for ¥2 trillion ($17.7 billion).
Bain Capital’s Pangea will fund the transaction, with contributions from Bain Capital itself, optical lens manufacturer Hoya, South Korean firm SK Hynix and US investors, including Apple, Kingston, Seagate and Dell. Toshiba will also reinvest ¥350.5 billion ($3.1 billion).
The deal is expected to conclude in March 2018. However, the arbitration of ongoing legal disputes between Toshiba and joint venture partner SanDisk could delay proceedings.
