China approves sale of Toshiba memory unit

In September 2017, Toshiba entered into a share purchase agreement with K.K. Pangea, a special purpose company formed and controlled by a consortium led by Bain Capital Private Equity, for about JPY2 trillion (EUR 15.3 billion). The Bain Capital-led consortium (which includes Bain, Hoya, SK Hynix and US investors comprising of Apple, Kingston Technology, Seagate Technology and Dell Technologies Capital) as well as Toshiba now confirmed that "all required anti-trust approvals have been granted, and that all conditions for the closing of the transaction are now satisfied" "The parties will now take necessary procedures to close the transaction, which is currently expected to occur on June 1, 2018", the press release reads on.