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General

Toshiba plans spin-off of semiconductor business - report

Wednesday 18 January 2017 | 09:04 CET | News
Toshiba is considering spinning off its semiconductor operations and selling a stake to Western Digital as it tries to cope with the cost of writedowns at its US nuclear power unit, the Nikkei Review reports. The chip business could be spun out in the first half of this year, and in addition to WD, investment funds are showing interest in becoming shareholders, unnamed sources familiar with the matter told the paper. The company is expected to sell around a 20 percent stake for JPY 200-300 billion (USD 1.77-2.65 billion).

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Categories: General
Companies: Toshiba / Western Digital
Countries: World
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