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Toshiba Chip Unit Sale Complete

Toshiba has completed the US$18 billion sale of its chip unit to a consortium led by US private equity firm Bain Capital.

Completion of the deal had initially been planned for the end of March but was delayed by a prolonged review by Chinese anti-trust authorities who didn’t register their approval until last month.

Toshiba had put the business up for sale after billions of dollars in cost overruns at its Westinghouse nuclear unit had plunged it into crisis.

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