Toshiba Sold to Multinational Consortium, including SK Hynix, for 20Tln Won

Write : 2017-09-28 19:08:27 Update : 2017-09-28 19:48:32

Toshiba Sold to Multinational Consortium, including SK Hynix, for 20Tln Won

A multinational consortium, including South Korea’s SK Hynix, has purchased Toshiba’s memory chip business for around 20 trillion won, or 17-point-five billion U.S. dollars.
 
The Japanese company said on Thursday the deal to sell Toshiba Memory Corporation to a consortium led by Bain Capital was approved by its board and signed with a special-purpose vehicle called Pangea, created by the U.S. equity fund.
 
The share purchase agreement(SPA) was presumed to be priced at two trillion yen, or 20-point-three trillion won.
 
SK Hynix will fund 395 billion yen, or four-trillion-14 billion won.
 
The consortium consists of SK Hynix, and companies from Japan and the U.S.

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