Toshiba paid off 40% of debts, whether to sell the business for the production of memory do you want?

Toshiba paid off 40% of debts, whether to sell the business for the production of memory do you want?

05.26.2019 0 Author admin

Toshiba's large debt was incurred because of problems with US energy assets, and long-standing scandal with fraud in the field of accounting, as a result, she was forced to take the decision to sell the most profitable business related to the release of solid state memory. Deal with an investment consortium led by Bain Capital still has not received the approval of the Chinese antitrust authorities and South Korean media see the root of the problem in the "jealousy" of the PRC authorities to the companies involved in the transaction SK Hynix.

However, the Japanese publication Nikkei Asian Review reported that Toshiba's official position remained unchanged - the sale of assets of the Memory Toshiba Corporation expects to conclude this quarter, after the possible removal of a positive verdict Chinese antimonopolschikov on 28 May.

Image source: Nikkei Asian Review

However, the high price of solid state memory enabled Toshiba Memory replenish the budget of the parent corporation accelerated pace, and for the first quarter of the current calendar year, the Japanese company paid 40 % debt to its creditors. If so things go on, she will be able to quickly pay off all debts, and no one will insist on the sale of assets. However, we should not forget that at the end of last year, Toshiba has made issue of shares, and the company's international investment funds were among the major shareholders. They are, as sources say, not quite satisfied with the price ($ 18 billion), for which may be implemented in Toshiba Memory assets. This factor may be an additional obstacle to the completion of the transaction with Bain Capital and partners.

As an alternative to the sale of assets is considered a public offering of shares. Toshiba representatives are not ready to confirm the change in priorities, and continue to argue that the deal with Bain Capital could take place.

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