Bain Capital/Apple consortium $18 billion acquisition of Toshiba chip unit

Overview:

• A consortium led by Bain Capital and Apple has acquired Toshiba's chip unit for $18 billion.
• Funding for the acquisition will be provided by Apple, Hynix and Hoya. 
• Following the terms of the deal - Toshiba will own 40.2% of the voting rights, while Hoya will have 9.9%. 
• The American tech companies will not vote.
• Toshiba will use the proceeds from the deal to fund existing debt from its US nuclear business.
• According to Bloomberg Apple is thought to have got involved due to its need to secure a source of chips. Samsung is the dominant player in this market but is also a rival of Apple in the smartphone market.
• Last year Western Digital took over SanDisk, Toshiba's chip joint venture partner in a $16 billion deal.

Katrin Kostadinova - Data analyst