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China approves Toshiba's sale of $18 billion chip unit to Bain

Staff Writer |
Toshiba said that China regulators have approved the $18 billion sale of its chip unit to a consortium led by U.S. private equity firm Bain Capital.

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“All antitrust approvals have now been received and we are looking forward to closing this investment,” Bain Capital said in a statement on Thursday.

“The Bain Capital-led consortium has committed to make significant capital investments to help develop and grow semiconductor technology.”

Toshiba said that it expects the deal to be completed on June 1.

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