Toshiba Memory to buy stakes held by Apple, Dell

Toshiba Memory aims for a listing in the Tokyo stock exchange by year end or early next year. (Reuters pic)

HONG KONG: Toshiba Memory Holdings will buy out the preferred shares in the chipmaker held by Apple, Dell Technologies and two other investors, the Wall Street Journal reported.

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

The US technology companies were part of a group led by Bain Capital that took over the memory chipmaker from former parent Toshiba.

Toshiba Memory is aiming for a listing in Tokyo later this year or in early 2020, the Journal said, citing one person familiar.