Toshiba confirms sale of semiconductor business to global consortium that includes SK Hynex

Toshiba confirms sale of semiconductor business to global consortium that includes SK Hynex


Toshiba has finalized the sale of its semiconductor
business to a multinational consortium that includes Korean chipmaker SK Hynix. The Japanese conglomerate’s decision to offload
Toshiba Memory Corporation to Pangea, a special-purpose acquisition company established by the consortium,…was
finalized on Tuesday during an extraordinary stockholders’ meeting in Japan. This comes a month after Toshiba publicly
announced it signed a share purchase agreement with Pangea. The deal is presumed to be worth around 17-point-six
billion U.S. dollars. SK Hynix will inject around three-and-a-half
billion dollars to help carry out the acquisition plan. The consortium also includes firms like Apple
and Dell, as well as Japan’s Hoya Optics.

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