China approves Toshiba's sale of $18 billion chip unit to Bain consortium
- 6 years ago
"중국, 도시바 메모리 매각 승인…SK 등 한미일 연합 인수 확정"
China gives the go ahead to... the sale of a majority stake in Toshiba's microchip business to a consortium led by a U.S. investment firm.
Kim Hyesung zooms in on the move that's seen as a significant peace offering to the Trump administration.
Toshiba said Thursday it has received regulatory approval from China for the sale of its memory chip business to a consortium led by U.S. investment firm Bain Capital.
The Japanese electronics company said the 18 billion U.S. dollar deal is expected to be completed on June 1st, now that it has gained anti-trust approval from all necessary regulators.
Bain Capital, in a statement, welcomed the approval from China, and said the transaction will help ensure a competitive global semiconductor market and respond to fast-changing demands.
Bain Capital leads a group of investors including Apple, Dell Technologies, and South Korean semiconductor company SK Hynix.
Beijing’s anti-trust approval was needed because China is the biggest market for the chips.
The deal, which was first announced in September last year, received clearance less than two weeks before a deadline on the decision,... and as Chinese negotiators hold trade talks with the U.S.
Toshiba, which invented NAND chip technology, put its chip business up for sale after losing billions of dollars from its push into nuclear energy.
South Korea's SK Hynix is expected to secure a stake of up to 15 percent by investing three-point-seven billion dollars into the consortium deal.
Currently, SK Hynix is the world's number four in NAND flash-memory chips global market share, and the deal is expected to further boost its position in the global chip business.
Kim Hyesung, Arirang News..
China gives the go ahead to... the sale of a majority stake in Toshiba's microchip business to a consortium led by a U.S. investment firm.
Kim Hyesung zooms in on the move that's seen as a significant peace offering to the Trump administration.
Toshiba said Thursday it has received regulatory approval from China for the sale of its memory chip business to a consortium led by U.S. investment firm Bain Capital.
The Japanese electronics company said the 18 billion U.S. dollar deal is expected to be completed on June 1st, now that it has gained anti-trust approval from all necessary regulators.
Bain Capital, in a statement, welcomed the approval from China, and said the transaction will help ensure a competitive global semiconductor market and respond to fast-changing demands.
Bain Capital leads a group of investors including Apple, Dell Technologies, and South Korean semiconductor company SK Hynix.
Beijing’s anti-trust approval was needed because China is the biggest market for the chips.
The deal, which was first announced in September last year, received clearance less than two weeks before a deadline on the decision,... and as Chinese negotiators hold trade talks with the U.S.
Toshiba, which invented NAND chip technology, put its chip business up for sale after losing billions of dollars from its push into nuclear energy.
South Korea's SK Hynix is expected to secure a stake of up to 15 percent by investing three-point-seven billion dollars into the consortium deal.
Currently, SK Hynix is the world's number four in NAND flash-memory chips global market share, and the deal is expected to further boost its position in the global chip business.
Kim Hyesung, Arirang News..