Toshiba has finalized the sale its memory chip business to a multinational consortium, including South Korea’s SK Hynix.
 
The Japanese company held an extraordinary stockholders’ meeting in Chiba on Tuesday to approve the sale of Toshiba Memory Corporation to Pangea, a special-purpose acquisition company established by a consortium consisting of companies from South Korea, Japan and the U.S.
 
Last month, Toshiba announced that it signed a share purchase agreement(SPA) with Pangea after its board approved the deal.
 
The deal is presumed to be priced at two trillion yen, or 19-point-nine trillion won, of which SK Hynix will fund 395 billion yen, or three-trillion-92 billion won.
 
The consortium also includes American firms such as Bain Capital, Apple and Dell as well as Japan’s Hoya. Toshiba will also maintain some portion of the stake in the memory chip business.