Toshiba has announced that its board of directors has agreed to select the consortium of Innovation Network Corporation of Japan, Bain Capital Private Equity and the Development Bank of Japan as the preferred bidder in respect of the sale of Toshiba Memory.
It is Toshiba’s intention to reach a mutually satisfactory agreement with the consortium by 28th June and to close the sale by March 2018 subject to regulatory approval.
Toshiba Memory became a subsidiary of the Toshiba Corporation on 1st April this year, so that the memory business could be sold to help Toshiba Corporation’s financial standing.
