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China Okays Toshiba's USD18 Billion Sale Of Memory-Chip Unit

18 May 2018

A Toshiba spokeswoman said the company had not confirmed whether there had been any approval by Chinese regulators. The group, which was chosen as preferred bidder for the acquisition past year, was waiting for approval from regulators in eight nations, including the US, China, Korea and Japan.

The government of China will not stand in the way of the Toshiba Memory Corporation's sale to USA investment house Bain Capital. It was feared that Beijing would delay reviews of major global chip deals.

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"The parties will now take necessary procedures to close the transaction, which is currently expected to occur on June 1, 2018", the press release reads on. They claimed SK hynix, which is ranked fourth in the NAND memory chip sector, could piggyback on Toshiba's unit to increase presence in the segment.

"All antitrust approvals have now been received and we are looking forward to closing this investment", Bain Capital said in a statement on Thursday.

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The chip-making arm of SK Group is part of a consortium led by United States investment firm Bain Capital. Toshiba Memory Corp. has its own flash storage business that is increasingly pushing into data center markets, threatening Toshiba's own traditional hard drive operations.

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China Okays Toshiba's USD18 Billion Sale Of Memory-Chip Unit