Troubled Toshiba, Bain finalize sale of memory-chip business

TOKYO (AP) — Toshiba and a consortium led by Bain Capital Private Equity have signed a deal for the sale of the Japanese electronics company’s computer memory chip business, a move long opposed by Toshiba’s U.S. joint venture partner Western Digital.

The consortium includes Apple Inc. and Dell Technologies Capital as U.S. investors, who will not acquire common stock or voting rights over the business. The sale of Toshiba Memory Corp. is priced at 2 trillion yen ($18 billion).

The deal, announced Thursday, was widely expected as Tokyo-based Toshiba Corp., which also has railroad and nuclear energy units, had announced it earlier, and the board signed off on it last week.

But Western Digital has repeatedly opposed the sale of the NAND flash-memory SanDisk joint venture, stressing it will continue with legal action.

.