China Okays Toshiba's USD18 Billion Sale Of Memory-Chip Unit

TOKYO (Alliance News) - China has approved US private-equity firm Bain Capital's USD18 billion ...

Alliance News 17 May, 2018 | 4:38PM
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TOKYO (Alliance News) - China has approved US private-equity firm Bain Capital's USD18 billion deal to acquire Toshiba Corp's memory-chip unit.

Toshiba confirmed receipt of all required anti-trust approvals in respect of the sale of Toshiba Memory Corporation.

On September 28 2017, Toshiba announced that it entered into a share purchase agreement with K.K. Pangea, a special purpose company formed and controlled by a consortium led by Bain Capital Private Equity, in respect of the sale of all of the shares of TMC, and that it aimed to close the transaction as soon as possible.

The parties today confirmed that all required anti-trust approvals have been granted, and that all conditions for the closing of the transaction are now satisfied.

The parties will now take necessary procedures to close the transaction, which is currently expected to occur on June 1, 2018.

Copyright RTT News/dpa-AFX

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