Toshiba closes sale of its chip unit to the Bain Capital consortium, of which Apple is part

It's been a while since the story appeared that the Toshiba would sell its memory chip business and Apple would be among those interested; There was a lot of buzz, but it seems that everything is coming to an end.

According to Bloomberg, Toshiba would have reached an agreement worth 2 trillion yen (about $ 57 billion) to sell its lucrative memory chip unit to the Bain Capital, a global consortium that includes companies such as Apple, Dell, Seagate, Hoya and SK Hynix.

In a given statement Reuters, SK Hynix said the Bain-led group owns 49.9% of the chip unit's voting rights, while Toshiba has 40.2% and Japan's Hoya Corp owns 9.9%. Already Apple, Dell, Seagate and Kingston Technology will probably invest in the form of non-convertible preferred shares.

Regarding the investment, there is still no certainty about all involved, but SK Hynix has revealed that it will invest 395 billion yen (~ $ 11 billion) in the unit. In addition, Toshiba is believed to contribute $ 10 billion, Bain with $ 6 billion and a total of $ 12 billion will come from Apple, Dell, Kingston, and Seagate.

The expectation that the entire negotiation will be effectively closed on March 31 next year, but there is a great possibility that the deadline will be extended.

The prices of NAND flash memories are rising, which is affecting companies including Ma, which recently raised the price of their iPad Pro supposedly. Therefore, this agreement is important for the Cupertino giant because it allows it to have greater control and produce sufficient memories for its products.

via 9to5Mac