Toshiba sold the NAND flash division for $ 18 billion to a group of investors including Apple's giant


Being distressed after injurious investments made in the United States, Toshiba will cover at least some of its debt by selling the company's most profitable memories division

Japanese company with a long business in the most diverse areas, Toshiba has come to the brink of bankruptcy after Shigenori Shiga CEO failed to find a solution to cover billions of dollars in losses resulting from humorous injurious investments made on territory of the United States. In particular, the precarious situation of the multinational company is attributed to Westinghouse Electric's subsidiary, which would be overpriced in 2015 for the acquisition of Chicago Bridge and Iron (CBI). According to investigations, Westinghouse Electric managers would have exerted "pressures" to speed up the acquisition and avoided certain "internal controls" that would have prevented the company from being brought into the current situation. Initially, Toshiba only confirmed the closure of nuclear expansion plans, not before the completion of the two reactors built in the US states of Georgia and South Carolina. But the resulting losses should somehow be covered, the most handy solution being the partial sale of the company.

In view of the huge demand for NAND memories, the sale of such a profitable business was viewed with suspicion by China's antitrust authorities, which laid down certain conditions for authorizing the $ 18 billion transaction. Thus, Toshiba maintains a 40.2% business share, losing its majority shareholder status. Instead, the main owner becomes a consortium of investors called Bain Capital, which includes heavy names like Apple, SK Hynix, Dell and Seagate Technology. According to unconfirmed official disclosures, Apple's stake in the company would be about $ 3 billion, but the exact amount is not known. In view of the growing problems with the supply of sufficient NAND flash chips, even partial ownership of a major memory manufacturer is an important victory for Apple

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