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Business

China launches antitrust probe into Toshiba Memory deal

Audit could delay sale to Bain consortium past March

| China

TOKYO -- Chinese antitrust regulators earlier this month opened an investigation into Toshiba's planned sale of its flash memory unit, it was learned Thursday.

Toshiba said in September that it is selling newly formed subsidiary Toshiba Memory to an international consortium led by U.S. private equity firm Bain Capital. The Japanese conglomerate hopes to close the deal by the end of March 2018.

Although the consortium applied for an antitrust review in China at the end of September, it took over two months for the process to begin.

It usually takes four months for China to complete audits of this type, with the process sometimes taking six months. It remains unclear whether the deal will be completed by March.

The deal has already passed antitrust inspections in Japan, the U.S., Brazil and the Philippines but still needs to pass muster in China, Taiwan, South Korea and the European Union.

(Nikkei)

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