Toshiba agrees to sell chip business to Bain-led group for $18 billion

It appears Toshiba Corp has sold off their highly valued chip unit. This doesn’t really affect Toshiba TEC and it’s subsidiary, Toshiba America, which is a different company than Toshiba Corp. The influx of capital should be well received at the battered Toshiba Corp. Here’s an article with the information:

The following appears on cnbc.com

  • Toshiba agreed to sell its prized memory chip business to a consortium led by Bain Capital Private Equity
  • The world’s second-largest producer of NAND memory chips said the deal was worth about $18 billion
  • The deal could help Toshiba plug a hole left in its finances following the bankruptcy of its U.S. nuclear unit, Westinghouse

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