Bain aims to settle with Western Digital on Toshiba chips
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The investment fund heading the consortium buying the memory chip business of Toshiba Corp. says it will try to reach a speedy settlement with Western Digital, the U.S. joint venture partner of Toshiba that is opposing the sale.
Yuji Sugimoto, the Japan head of Bain Capital, told reporters Thursday that Western Digital remains an important partner, and a speedy resolution will benefit both sides. He declined to elaborate, saying litigation was ongoing.
Sugimoto said the consortium aims to list the memory business company on the Tokyo Stock Exchange within several years, making sizable investments each year.
Western Digital is opposing the sale of the NAND flash-memory SanDisk joint venture, vowing to continue with legal action. The deal, priced at 2 trillion yen ($18 billion), was announced last week.