Toshiba to sell chip business to Bain-led group for $18 bn
Japanese conglomerate Toshiba on Wednesday agreed to sell its flash memory chip business to a consortium led by Bain Capital Private Equity. Toshiba, the world's second-largest producer of NAND memory chips, said the deal was worth about $18 billion. According to reports, Toshiba will reinvest $3.1 billion into the holding company that is set up by the Bain-led consortium.