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Toshiba inks 2t yen deal to sell chip arm to Bain consortium

Final agreement's signing is a major step toward completing pact after months of negotiations

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Published Thu, Sep 28, 2017 · 09:50 PM

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Tokyo

TOSHIBA Corp signed a final agreement to sell its flash memory chip business to a group led by Bain Capital for about two trillion yen (S$24.1 billion), moving a step closer to completing the deal after months of contentious negotiations.

The Bain consortium includes major technology players Apple Inc, Dell Inc, SK Hynix Inc and Japan's Hoya Corp, while Toshiba itself will maintain a stake, the company said in a statement on Thursday.

Toshiba

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