The logo of Toshiba Corp is seen at the company's facility in Kawasaki, south of Tokyo, Japan February 28, 2017.

Hitoshi Yamada | NurPhoto | Getty Images

The logo of Toshiba Corp is seen at the company’s facility in Kawasaki, south of Tokyo, Japan February 28, 2017.

Troubled Japanese conglomerate Toshiba has selected a group comprising Bain Capital and South Korea chipmaker SK Hynix to buy its prized memory business, according to Reuters, citing sources.

Representatives for Toshiba and SK Hynix declined to comment on the report.

The move comes after Reuters reported that Toshiba was shifting back toward selling the business to a group backed by joint venture partner Western Digital.

In June, Toshiba had selected a consortium comprising the Innovation Network Corporation of Japan, Bain Capital Private Equity and the Development Bank of Japan as a preferred bidder.

This is a breaking story. Please check back for updates.

Source

NO COMMENTS