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Bain plans to maintain chip fabrication facilities jointly operated by Toshiba and Western Digital in Japan's Mie Prefecture.
Business

Bain eyes Toshiba chip bid with unit's management

American investment fund also wants Japanese public-private fund as partner

| Japan

TOKYO -- U.S. private-equity firm Bain Capital will tender a bid for Toshiba's memory chip unit that would leave a substantial stake in the conglomerate's hands, it was learned Thursday.

Bain would acquire at least 51% of Toshiba Memory through a special-purpose company. The rest would go to the Toshiba group, such as to the memory manufacturer's management team and the conglomerate itself, and possibly the public-private Innovation Network Corp. of Japan. South Korean chipmaker SK Hynix would contribute money to the special-purpose company but avoid direct involvement to keep from running afoul of antitrust law.

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