Apple, Dell to Give Up Their Shares in Toshiba Memory: WSJ

Citing people familiar with the plan, The Wall Street Journal is reporting that Apple, Dell, and two other U.S. tech companies are looking to give up their preferred shares in Japanese chipmaker Toshiba Memory Holdings for more than $4 billion as part of a refinancing plan.

The two other U.S. companies, which according to Bloomberg are Kingston and Seagate Technology, together with Apple and Dell were part of a group led by Bain Capital that took over the memory chipmaker from former parent Toshiba Corp., preventing Western Digital from taking control of the company’s memory venture:

The more than $4B sale is part of a refinancing plan backed by a forthcoming package of up to $11.8B from Japanese banks. Simplifying its capital structure could help Toshiba Memory list itself and access public equity funds.

Toshiba Memory is now said to be aiming for a listing in Tokyo later this year or in early 2020.