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Toshiba disposes off its microchip business

21 September 17 - RE+D Magazine
Toshiba disposes off its microchip business

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Antulio Richetta

Director IBI Group
The board of the Japanese conglomerate Toshiba has approved a plan to sell its lucrative microchip business to a group of American and Japanese buyers, bringing the company closer to a deal it may need to survive.

 

Details of the sale must still be finalized, Toshiba said in a statement on Wednesday, leaving open the possibility of another turn in a drawn-out bidding process marked by reversals, acrimony and confusion.

The Japanese company said the microchip unit would be sold for 2 trillion yen, or roughly $18 billion. It was not clear on Wednesday how much would end up being owned by outside investors.

Those investors primarily include Bain Capital, the American buyout firm, and two organizations controlled by the Japanese government, the Innovation Network Corporation of Japan and the Development Bank of Japan.

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