Toshiba $18 bln sale of chip unit signed, but discord emerges immediately

Toshiba $18 bln sale of chip unit signed, but discord emerges immediately

TOKYO (Reuters) – Japan’s Toshiba Corp said on Thursday it had signed an $18 billion deal to sell its chip unit to a consortium led by Bain Capital LP, overcoming a key – albeit not its last – hurdle as it scrambles for funds to stave off a potential delisting.But in an inauspicious sign, a Tokyo news conference on the deal was cancelled, with Bain saying the consortium could not form a consensus on whether to brief media – underscoring fears that the 8-member group contained too many competing interests for it to work well.The sale of the unit – the world’s second biggest producer of NAND chips – was agreed last week after a tortuous auction process but the signing was delayed because consortium member Apple Inc demanded new terms on chip supply, sources familiar with the matter have said.

Källa: Toshiba $18 bln sale of chip unit signed, but discord emerges immediately