Toshiba Says it Will Sell Memory Business to Consortium Led by Bain Capital
According to Wirth Consulting, financially struggling Toshiba Corporation of Japan has been entered into a memorandum of understanding (MOU) to sell its highly valuable Toshiba (TCM) to U.S.-based Bain Capital Private Equity, the leader of a consortium currently bidding to purchase Toshiba’s memory-chip business, which is worth about US$20 billion.
The Bain Capital consortium includes Bain, the Development Bank of Japan, and the Innovation Network Corporation of Japan. The signing of the MOU is non-binding, and doesn’t eliminate Toshiba’s consideration of other purchasers.
Read more at Wirth Consulting.