Shareholders of Toshiba approved the issuance of memory business for auction

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POSTER: computer news   ||   SHAREHOLDERS OF TOSHIBA APPROVED THE ISSUANCE OF MEMORY BUSINESS FOR AUCTION	DATE:2017-03-31
Following the news about the launch of the bankruptcy procedure of the US power unit Westinghouse, the Japanese corporation Toshiba got into news headlines in connection with the positive decision to sell assets associated with the release of NAND-type memory, as explained by business publications Reuters and Bloomberg .  The funds raised from the sale of this business will go, including, to cover losses due to the bankruptcy of Westinghouse, which may exceed $ 9 billion. The decision to sell the NAND memory business was supported by more than two thirds of the shareholders, but the whole meeting was held in a very tense situation.  Toshiba's management was accused of incompetence and aggravation of the situation, causing serious damage to business and reputation.  Applications from potential investors that may become owners of Toshiba's assets associated with the release of memory chips are no longer accepted.  According to unofficial data, while the company's management is trying to get promises from potential investors not to resell the acquired assets.  Among the favorites, according to the Japanese press, was a tandem investment company Silver Lake Partners and Broadcom, which is ready to pay for Toshiba assets about $ 17.9 billion. Foxconn could offer more, but the Japanese authorities do not welcome the appearance among representatives of Toshiba representatives of South Korean or Chinese business.  Americans are also waiting with open arms - including, due to the fact that Toshiba has some obligations in connection with the bankruptcy of the energy company Westinghouse, which operated in the US jurisdiction.  The decision to sell a business for the release of memory to specific investors should be taken before the next meeting of shareholders of Toshiba, which is scheduled for June this year. Related Products :

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