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Toshiba expects to close sale of memory-chip unit in April
Source: DIGITIMES   Editor: Helan   Update Time :2018/4/2 17:08:50

Toshiba has disclosed the completion of its planned sale of Toshiba Memory will be delayed to "April 2018 or thereafter," as "certain conditions relating to required antitrust approvals" have yet to be confirmed.

Toshiba reiterated the company "still intends to close the transaction as soon as possible."

Toshiba agreed to sell Toshiba Memory to a consortium led by Bain Capital for about JPY2 trillion (US$18.9 billion), which was sealed in September 2017. However, Toshiba missed its March 30 deadline to complete the sale.

The sale of Toshiba Memory is reportedly awaiting for regulatory approval from China - the final hurdle before the transaction is completed.

Toshiba Memory was split from Toshiba on April 1, 2017 as a wholly-owned subsidiary responsible for Toshiba's memory business.

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