Bain wants to list Toshiba’s chip division on Tokyo’s bourse within three years
Tokyo — On Thursday, US private equity firm Bain Capital said it aimed to list Toshiba’s chip unit on the Tokyo Stock Exchange within three years, to cash in its investment after leading an $18bn acquisition of the business. Bain, whose consortium signed the purchase deal last week, also said it hoped to settle legal disputes over the transaction at an early stage with Western Digital, Toshiba’s joint venture partner. Toshiba aims to complete the sale by the end of its fiscal year in March. It plans to use the proceeds to plug a hole in its balance sheet caused by the bankruptcy of its US nuclear power subsidiary, and save itself from potential delisting. With the clock ticking, Bain filed for antitrust approval in China the day after signing, a person familiar with the matter said on Wednesday. Several other sources said the strategic nature of the chip industry for China and political complications — including currently tense relations with South Korea, and the presence of South K...
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