Dec 13, 2017
Toshiba settles legal disputes with Western Digital
Toshiba has settled a legal dispute with partner Western Digital that could have prevented the $18bn sale of its prized memory chip unit. Toshiba needs to sell the chip business to cover heavy losses at its US nuclear unit. The agreement allows Western Digital to invest in a new production line for advanced memory chips and guarantee future supply for the firm. The legal battles started earlier this year after Toshiba said it would sell the chip division to cover big losses arising from the firm's now bankrupt US nuclear power unit. After failing to win the bid, Western Digital took legal action against Toshiba arguing that the deal could not happen without its consent because of their existing joint venture partnership in the memory chip business.
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