Toshiba Memory to Buy Stakes Held by Apple, Dell: WSJ

(Bloomberg) -- Toshiba Memory Holdings will buy out the preferred shares in the chipmaker held by Apple Inc., Dell Technologies Inc. and two other investors, the Wall Street Journal reported.

Apple and Dell will join Kingston Technology Co. and Seagate Technology Plc in selling their shares to Toshiba Memory for about 500 billion yen ($4.5 billion), the Journal reported, citing unidentified people familiar with the matter. The deal will be completed by the end of May.

The U.S. technology companies were part of a group led by Bain Capital that took over the memory chipmaker from former parent Toshiba Corp. Toshiba Memory is aiming for a listing in Tokyo later this year or in early 2020, the Journal said, citing one person familiar.

©2019 Bloomberg L.P.