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Toshiba prefers group led by Bain, Japan investors to buy its chip unit

Toshiba likes the consortium's proposed valuation, retention of employees and maintenance of sensitive technology in Japan

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Although the chip unit is Toshiba's crown jewel, the Tokyo-based company will be left with more than 600 different businesses, including elevators, a general hospital and software services.

Tokyo

TOSHIBA Corp picked a group led by Bain Capital and Japanese investors as the preferred bidders for its memory chip business, bringing much needed cash into the Japanese company to make up for losses in its nuclear operations.

The parties are aiming to reach final agreement

sentifi.com

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