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China approves Toshiba's sale of $18 billion chip unit to Bain consortium

2018-05-18 2 Dailymotion

"중국, 도시바 메모리 매각 승인…SK 등 한미일 연합 인수 확정"<br /><br /> China gives the go ahead to... the sale of a majority stake in Toshiba's microchip business to a consortium led by a U.S. investment firm.<br />Kim Hyesung zooms in on the move that's seen as a significant peace offering to the Trump administration. <br /> Toshiba said Thursday it has received regulatory approval from China for the sale of its memory chip business to a consortium led by U.S. investment firm Bain Capital.<br />The Japanese electronics company said the 18 billion U.S. dollar deal is expected to be completed on June 1st, now that it has gained anti-trust approval from all necessary regulators. <br /> Bain Capital, in a statement, welcomed the approval from China, and said the transaction will help ensure a competitive global semiconductor market and respond to fast-changing demands.<br />Bain Capital leads a group of investors including Apple, Dell Technologies, and South Korean semiconductor company SK Hynix. <br />Beijing’s anti-trust approval was needed because China is the biggest market for the chips.<br /> The deal, which was first announced in September last year, received clearance less than two weeks before a deadline on the decision,... and as Chinese negotiators hold trade talks with the U.S. <br /> Toshiba, which invented NAND chip technology, put its chip business up for sale after losing billions of dollars from its push into nuclear energy. <br /> South Korea's SK Hynix is expected to secure a stake of up to 15 percent by investing three-point-seven billion dollars into the consortium deal. <br /> Currently, SK Hynix is the world's number four in NAND flash-memory chips global market share, and the deal is expected to further boost its position in the global chip business. <br />Kim Hyesung, Arirang News.. <br />

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