Toshiba's chip sale to consortium wins regulatory approval

May 17, 2018 - 8:38 am

TOKYO (AP) — Japanese electronics company Toshiba Corp. says the sale of its computer memory chip business to a consortium led by Bain Capital Private Equity has cleared all anti-trust regulatory approval, including a final one it was awaiting from China.

Toshiba said Thursday that means the deal, valued at 2 trillion yen ($18 billion), can now close by June 1.

Tokyo-based Toshiba, which also has railroad and nuclear energy units, has been counting on the deal for a turnaround.

Its U.S. nuclear operations at Westinghouse Electric Co. filed for bankruptcy last year.

Initially, Western Digital opposed the sale of the NAND flash-memory SanDisk joint venture, starting lawsuits.

Toshiba first announced the sale in September last year. The dispute with Western Digital was settled late last year.

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