Toshiba says not considering separate investment in chip unit by Bain group member

Toshiba says not considering separate investment in chip unit by Bain group member

Toshiba Corp said on Friday it was not considering accepting any separate investment in its memory chip unit by a member of a Bain Capital-led consortium that has agreed to buy the prized business for US$18 billion.

FILE PHOTO: A logo of Toshiba Corp is seen outside an electronics retail store in Tokyo, Japan, January 19, 2017. REUTERS/Toru Hanai/File Photo

TOKYO: Toshiba Corp said on Friday it was not considering accepting any separate investment in its memory chip unit by a member of a Bain Capital-led consortium that has agreed to buy the prized business for US$18 billion.

The statement came after Yomiuri newspaper reported that the cash-strapped conglomerate was considering a capital increase for the subsidiary, Toshiba Memory, with the investment coming from a member of the Bain-led group.

Strapped with liabilities arising from its bankrupt U.S. nuclear unit, Toshiba agreed in September to sell the chip unit to the consortium, which also includes South Korea's SK Hynix Inc. Toshiba repeated on Friday its stance that it was aiming to close the deal by the end of March.

(Reporting by Chang-Ran Kim; Editing by Edwina Gibbs)

Source: Reuters

Bookmark