Saturday, 17 November, 2018

China approves Toshiba's chip unit sale to Bain, reports Japan's NHK

Japanese multinational conglomerate Toshiba sign in Beijing China What a pain for poor old Bain Toshiba $18bn flash chip biz sale stalls READ MORE
Patty Aguilar | 18 May, 2018, 12:42

In addition, Toshiba will retain a 40 per cent stake and, together with technology firm Hoya, will ensure that Japanese companies retain a controlling stake of just over 50 per cent. Xi Jinping confidante Liu He is now in Washington to discuss the trade dispute.

"Today we received written approval for the acquisition of Toshiba Memory Corporation from the antitrust authorities in China", Bain said in a statement.

The government of China will not stand in the way of the Toshiba Memory Corporation's sale to United States investment house Bain Capital.

"The parties will now take necessary procedures to close the transaction, which is currently expected to occur on June 1, 2018", Toshiba revealed today (PDF).

Officials seek 'wiggle room' in NAFTA talks as U.S. deadline lapses
On Thursday, though, Ryan told reporters that there might be a window of two more weeks, since it's possible that the U.S. Capitol that Congress can not begin working on the negotiating law known as "fast track" without a trade deal in hand.

Barcelona jets in for a day to beat South African champs
Mandela, South Africa's first black president, died in December 2013 at the age of 95. Their final game is at home to Real Sociedad on May 20.

CARICOM calls for restraint in Israel-Palestine conflict
The death toll led to global condemnations of Israel and calls for an independent investigation. His words; "This is not peaceful resistance", he said .

The approval for the Bain consortium may raise hopes that Beijing will also give the greenlight to Qualcomm's proposed US$44 billion takeover of rival NXP Semiconductors.

The chip-making arm of SK Group is part of a consortium led by U.S. investment firm Bain Capital.

It already had the green light from Korean, U.S., Japanese and European authorities, but awaited approval from China. The Bain consortium past year won a long and highly contentious battle for the business.

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