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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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 by June 28 and close the transaction by March, Toshiba said in a statement on Wednesday. The consortium has indicated that it's willing to pay 2.1 trillion yen (S$26 billion) for the semiconductor unit, people with knowledge of the matter have said.
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