Toshiba signs memorandum to accelerate negotiations with Bain led investors

Toshiba needs to desperately divest its chip making business. Negotiations with investors led by Bain Capital appear to be chugging alone steadily.

On Wednesday, in a significant development, Toshiba Corp disclosed it has signed a memorandum to accelerate negotiations for selling its memory chip business to a group of investors led by private equity firm, Bain Capital and chipmaker SK Hynix Inc.

In its statement, Toshiba has stated it now aims to sign a contract by late September.

Significantly, the company has kept the doors for other bidders ajar: it has stated that the memorandum does not exclude talks with other bidders.

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