
Toshiba Confirms Spin Off of Its NAND Flash Production Business
After some reports pegged this event has likely and upcoming, Toshiba has now confirmed that they will be spinning off their NAND production business, whilst simultaneously parting with a 20% minority stake on the resulting business. This would inject Toshiba's coffers with enough liquidity to keep the company afloat, whilst letting them keep a hold of their most profitable business.
While details are still scarce (namely regarding the structuring of this spin off and who will be the investor to buy the reported 20% stake that Toshiba is willing to part with (with it most likely being Western Digital, as we've mentioned in our previous piece), the company has announced that they want to complete the transaction by the end of this quarter, March 31st.
While details are still scarce (namely regarding the structuring of this spin off and who will be the investor to buy the reported 20% stake that Toshiba is willing to part with (with it most likely being Western Digital, as we've mentioned in our previous piece), the company has announced that they want to complete the transaction by the end of this quarter, March 31st.