Toshiba to start final talks to ink memory biz deal

August 28, 2017

TOKYO- Japan's Toshiba Corp. will start final talks with US partner Western Digital Corp., aiming to ink a deal within this month that will enable the sale of Toshiba Memory Corp.

Western Digital has told Toshiba that it does not necessarily mean to take the helm of Toshiba Memory, informed sources said.

This will allow a Japanese-led group, including government-backed fund Innovative Network Corp. of Japan and the government-held Development Bank of Japan, to play the leading role.

Toshiba and Western Digital are aiming to determine details of the envisioned deal this week. To finalize the deal, the two sides plan to hold a meeting of Toshiba President Satoshi Tsunakawa and Western Digital Chief Executive Officer Stephen Milligan. Jiji Press