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Update on the Signing of a Share Purchase Agreement for the Sale of Toshiba Memory Corporation
Source: Toshiba   Editor: Helan   Update Time :2018/3/26 18:48:15

On September 28, 2017, Toshiba Corporation (Toshiba) announced that it had entered into a Share Purchase Agreement (SPA) for the sale of all shares of Toshiba Memory Corporation, a wholly owned subsidiary of Toshiba, to K.K. Pangea, a special purpose acquisition company formed by a consortium led by Bain Capital Private Equity, L.P. Toshiba also disclosed its intention to close the transaction by the end of March, 2018, subject to the satisfaction or waiver of all the relevant conditions stipulated in the SPA.

The SPA provides that if the conditions to closing are satisfied or waived by March 23, 2018, the closing shall occur on March 30, 2018. However, the satisfaction of certain conditions relating to antitrust approvals in required jurisdictions have not yet been confirmed. Although the timing of the closing has not been determined, Toshiba intends to close the transaction as soon as possible. Toshiba will promptly announce any development that requires further disclosure.

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