Japanese tech giant Toshiba today confirmed it had completed a $18bn (£13.5bn) sale of its chip unit to a consortium backed by private equity group Bain Capital.
The deal was originally supposed to go through by the end of March, but was held up by a review from Chinese antitrust authorities, who eventually approved the sale last month.
Bain's consortium won the contentious fight for Toshiba Memory, the second largest producer of NAND chips in the world.
Read more: Toshiba finally signs £13bn deal to sell chips unit to Bain-led consortium
Toshiba were forced to look for a buyer after the company lost billions of dollars in cost overruns at its Westinghouse nuclear unit.
The consortium is made up of South Korean chipmaker SK Hynix, Apple as well as Dell Technologies, Seagate Technology and Kingston Technology.
Under the new deal, Toshiba will repurchase 40 per cent of the chip unit.
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