DV Hardware - bringing you the hottest news about processors, graphics cards, Intel, AMD, NVIDIA, hardware and technology!

   Home | News submit | News Archives | Reviews | Articles | Howto's | Advertise
 
DarkVision Hardware - Daily tech news
September 23, 2017 
Main Menu
Home
Info
News archives
Articles
Howto
Reviews
 

Who's Online
There are currently 66 people online.

 

Latest Reviews
Ewin Racing Champion gaming chair
Zowie P-TF Rough mousepad
Zowie FK mouse
BitFenix Ronin case
Ozone Rage ST headset
Lamptron FC-10 SE fan controller
ZOWIE G-TF Rough mousepad
ROCCAT Isku FX gaming keyboard
 

Follow us
RSS
 

Toshiba reportedly selling flash unit to WD-backed group

Posted on Tuesday, September 12 2017 @ 13:22:01 CEST by


Toshiba logo
Is an end finally in sight for the months-long Toshiba drama? Losses in the conglomerate's nuclear division prompted Toshiba to sell its profitable NAND flash memory chip units to plug the deep holes in the company's balance sheet. Several parties circled around Toshiba and Western Digital even filed a lawsuit, claiming the spin-off and sale of the Toshiba semiconductor unit violates the joint venture agreement it has with the company.

Now a rumor is going around that Toshiba has agreed to sell the flash unit to a Western Digital-led consortium for 2 trillion yen (approx. $18.23 billion).

Besides Western Digital, the consortium includes private equity firm Bain Capital and the Development Bank of Japan. According to the leak, the deal will center on a "New Japan-America Alliance" and will be funded by common and preferred stocks purchases by various entities. Western Digital will reportedly not put any money on the table during the initial investing round, presumably to prevent anti-trust issues so the deal can clear faster. However, Western Digital does plan to invest later on to secure 15 percent of the voting rights.

The news isn't official yet but Toshiba is expected to make an announcement after tomorrow's board of directors meeting. It's a race around the clock for Toshiba as the company needs a deal that can clear before March 2018 to avoid excessive debt buildup and possible delisting from the Tokyo Stock Exchange.



 



 

DV Hardware - Privacy statement
All logos and trademarks are property of their respective owner.
The comments are property of their posters, all the rest © 2002-2017 DM Media Group bvba