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Toshiba seeking 1 trillion yen for stake in chip unit: source

Japan conglomerate may sell to multiple buyers rather than one bidder
Wednesday, February 22, 2017 - 05:50

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Toshiba has not decided on the size of the stake to be sold, preferring to focus on the amount that can be raised, the source said. He also said that the company would like to retain a one-third holding that would give it a degree of control over the business.

Tokyo

TOSHIBA Corp wants to raise at least one trillion yen (S$12.5 billion) from the sale of a majority stake in its flash memory chip business as a buffer against any fresh financial problems, a source with direct knowledge of the matter said.

After flagging a US$6.3 billion

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