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Appeared on: Monday, March 6, 2017
Toshiba Informs SK hynix of New Plan to Sell Memory Business

Toshiba Corp. has informed SK hynix Inc. of its new plan to sell stakes in its memory chip business, the South Korean company said Monday.



SK hynix submitted a non-binding bid last month to acquire a stake in Toshiba's chip business. In a regulatory filing, SK hynix said it will make an announcement when it decides to make a final bid.

In January, Toshiba said it would sell a roughly 20 percent stake in its memory operations as it struggles with multibillion dollar write-downs from its nuclear power business in the United States. The company
later decided to sell most of the chip business and wants to raise at least 1 trillion Yen ($8.79 billion).



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