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.