TOKYO (AP) — Toshiba says its board has signed off on selling its computer chip business to a group led by Bain Capital Private Equity, but the deal's future remains unclear as Toshiba's U.S. joint venture partner Western Digital opposes it.
Japanese electronics and nuclear company Toshiba Corp. said Wednesday it hopes the deal, estimated at 2 trillion yen ($18 billion), will close by the end of March next year.
Toshiba announced last week that it has entered into an agreement with the Bain Capital group.
But Western Digital immediately said it opposed the sale of the NAND flash-memory SanDisk joint venture, stressing it will continue with legal action.
Toshiba has been battered by massive losses related to its U.S. nuclear operations at Westinghouse Electric Co., which filed for bankruptcy earlier this year.