Yesterday Japanese Toshiba Corporation made an official statement regarding the selection of buyers of Toshiba Memory assets , with whom an agreement of intent will be entered into by June 28 this year, when the next shareholders meeting of the company will take place. The official list of buyers included Japanese Innovation Network Corporation of Japan and Development Bank of Japan, as well as the US investment fund Bain Capital Private Equity LP. According to unofficial data, these
institutional investors will buy 50.1% of Toshiba Memory shares, although the Japanese corporation itself does not disclose the amount of the transaction. This statement has already caused a reaction from Western Digital Corporation .
As expected, WDC emphasizes Toshiba's lack of the right to sell its share in a joint venture with SanDisk to produce NAND-type memory without the approval of a representative in this business participant, Western Digital Corporation. The nearest court session on this issue will be held on July 14, and Toshiba expects to transfer to the new owners the assets of its solid-state memory division only by March 2018.
The source claims that SK Hynix Korean memory manufacturer provided a loan of $ 2.62 billion to finance the deal, and "Korean money" covers only 15% of the total value of Toshiba Memory assets acquired by the US-Japan consortium (about $ 18 billion). This allowed to avoid the attention of authorities, because when gaining control over the assets of Japanese competitor SK Hynix could claim the title of the second largest manufacturer of NAND in the world after Samsung. Officially
representatives of SK Hynix this situation does not comment. The Japanese side pretends that it is satisfied with the opportunity to "leave the technology sensitive to national interests" in the country, as well as avoiding cutbacks of personnel employed by Japanese enterprises.
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