Deals
Toshiba Seeks At Least $8.8 Billion in Chip Stake Sale
- Deal could value chips business at as much as 2 trillion yen
- Company aims to finalize sale during next fiscal year
What's Ahead for Toshiba After Revealing $6.3B Loss
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Toshiba Corp. is looking to raise at least 1 trillion yen ($8.8 billion) from the sale of its memory chip business and will aim to complete the transaction by March 2018, according to a person familiar with the matter.
The deal will likely result in Toshiba relinquishing majority control over the unit, which could be valued as high as 2 trillion yen, the person said, asking not to be identified as the matter is private. The company wants to take time negotiating the best price possible without setting a concrete deadline, although it aims to reach an agreement before the end of the next fiscal year, according to the person. A Toshiba spokesman declined to comment.