Press Release

Official Statement on the Investment in Toshiba Memory Corporation

By May 18, 2018 December 7th, 2020 No Comments

As regulatory approval from Chinese antitrust authorities was received on May 17, 2018, all conditions necessary for the acquisition of Toshiba Memory Corporation (hereinafter TMC) by K.K. Pangea, a company controlled by a consortium led by Bain Capital Private Equity have been met.

Bain Capital and SK plan to complete necessary procedures soon through discussion with TMC and consortium partners. The closing of the transaction is expected to be on June 1, 2018.

The consortium appreciates the Chinese authorities for making the best decision against all odds.

We also thank TMC who has shown unwavering support for the consortium.

Bain Capital and SK, with all parties to the consortium, will make every effort to ensure the continuous growth of TMC. We are also committed to work together for the growth of the semiconductor industry and healthy competition within it.

Lastly, we again express our gratitude to all stakeholders, including Toshiba Corporation, the consortium, and each government authority, who have worked together toward the best result.