Toshiba Reaches Tentative Deal to Sell Microchip Unit
- 7 years ago
Toshiba Reaches Tentative Deal to Sell Microchip Unit
TOKYO — 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.
Toshiba said buyers would receive a mix of regular shares, preferred shares — which normally do not carry voting rights —
and bonds that could eventually be converted into shares.
One way that will happen is that Toshiba said it would join Bain and its partners in creating the special purpose company that will buy the unit.
The Japanese company said the microchip unit would be sold for 2 trillion yen, or roughly $18 billion.
TOKYO — 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.
Toshiba said buyers would receive a mix of regular shares, preferred shares — which normally do not carry voting rights —
and bonds that could eventually be converted into shares.
One way that will happen is that Toshiba said it would join Bain and its partners in creating the special purpose company that will buy the unit.
The Japanese company said the microchip unit would be sold for 2 trillion yen, or roughly $18 billion.