TOKYO -- Embattled Japanese conglomerate Toshiba has struck a 2 trillion yen ($18 billion) deal with a Japanese-American-South Korean consortium led by U.S. private equity firm Bain Capital to sell its flash memory unit, the company announced on Thursday.
The deal comes a week after Toshiba's board chose the Bain-led consortium as the preferred buyer, ending months of flip-flopping over its valued unit. Toshiba will hold an extraordinary shareholders meeting in late October to finalize approval.
