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Toshiba Completes Sale of Flash Memory Unit to Investment Group That Includes Apple

Toshiba has finished the $18 billion deals of its memory chip unit to a global association that involves Apple. It’s about nine months as it has declared that the deal had been accepted.

The Japanese firm first prepared to bind up the sale by mid-March. However, a long survey by Chinese antitrust experts didn’t end till last month. Toshiba has settled the ownership of the NAND flash memory unit had finally changed hands this week.

The venture consortium was headed by Bain Capital that includes Apple, Dell, SK Hynix, Kingston, and Seagate Technology. Toshiba holds a 40 percent occupancy of the unit as the role of the agreement.

Toshiba had first declared their ideas to market its NAND flash memory unit in January 2017. In order to increase funds to reach several billion dollars of damages connected with U.S. nuclear subsidiary, Westinghouse. Also, it was requesting for the chip unit opening kicked off in March of that year.  And it was with the company fielding requests from various interested companies.

There are three bidding groups that competed to take the profitable chip unit, with Bain ultimately succeeding out. Apple has participated in it and its shrewdness to guard the supply of Toshiba flash memory, which is used in iPhones and iPads.

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