“U.S. private equity firm Bain Capital LP on Thursday said it aims to list Toshiba Corp’s chip unit on the Tokyo Stock Exchange within three years, to cash in its investment after leading an $18 billion acquisition of the business,” Makiko Yamazaki and Junko Fujita report for Reuters. “Bain, whose consortium signed the purchase deal last week, also said it hopes to settle legal disputes over the transaction at an early stage with Western Digital Corp, Toshiba’s joint venture partner.”

“Toshiba aims to complete the sale by the end of its fiscal year in March,” Yamazaki and Fujita report. “With the clock ticking, Bain filed for antitrust approval in China the day after signing, a person familiar with the matter said on Wednesday.”

“In the first news conference since the signing, Yuji Sugimoto, head of Bain Capital in Japan, told reporters on Thursday that Bain hopes to maintain stability at the chip unit through contracts with Apple Inc, a major client and member of the buyout consortium,” Yamazaki and Fujita report. “For Bain, the deal is part of an aggressive expansion strategy in Japan. Only days after the Toshiba deal, Bain announced a $1.4 billion bid for Japan’s third-largest advertising agency, Asatsu-DK Inc, in one of the largest buy-outs in the country this year.”

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MacDailyNews Note: The collapse of Toshiba’s U.S. nuclear unit Westinghouse, which filed for bankruptcy earlier this year, cost the Japanese company some $6.4 billion. The loss forced Toshiba to report a negative net worth for the fiscal year that ended in March. If it doesn’t turn things around by the end of this fiscal year, its shares will be delisted from the Tokyo Stock Exchange.

SEE ALSO:
Toshiba signs deal to sell chip unit to Bain Capital-led, Apple-backed group for $18 billion – September 28, 2017
KKR said to be wooing Apple to switch sides in Toshiba bid – September 26, 2017
Bain Capital-Apple group to buy Toshiba chip business for $18 billion – September 21, 2017
Toshiba decides on Bain Capital-Apple Group in chip business sale – September 20, 2017
If Bain Capital bid for Toshiba succeeds, it could be Apple’s largest deal ever – September 14, 2017
Apple mounts a full-court press for Toshiba’s chip business, waging battle with Western Digital – September 8, 2017
Foxconn details plan to acquire Toshiba chips unit; Apple would own 20 percent – September 7, 2017
Bain Capital brings in Apple for last-minute $18 billion bid for Toshiba chip unit – August 30, 2017
Apple and Amazon to back Foxconn on Toshiba chip bid, Hon Hai Chairman Terry Gou says – June 5, 2017
Apple may bid for big stake in Toshiba – April 17, 2017
U.S. suitors get major advantage as Japan to vet bidders in Toshiba chip sale over national security risks – March 10, 2017