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Business deals

Chinese competition watchdog gives go-ahead to Toshiba Memory deal

Consortium of US, South Korean and Japanese companies will pay $18.1bn

The sale of Toshiba’s memory unit is crucial for the financial improvement of the indebted Japanese electronics conglomerate.

TOKYO -- China's competition watchdog has approved the sale of Toshiba's memory unit, Nikkei has learned. A consortium of companies from the U.S., South Korea and Japan, including Bain Capital and SK Hynix, will pay 2 trillion yen ($18.1 billion) to buy Toshiba Memory, according to people familiar with the matter.

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