TOKYO Feb 7 Toshiba Corp wants
investment funds including Bain Capital to buy a stake in its
flash memory business rather than industry peers such as Micron
Technology Inc because doing so will speed up the planned
sale, a source said.
Toshiba needs to raise funds by the end of March to offset
an imminent multi-billion dollar writedown on its U.S. nuclear
power business. There may not be enough time to conclude a deal
with another chipmaker, said the source with direct knowledge of
Micron Technology, SK Hynix Inc and Toshiba's
current memory partner Western Digital Corp have
submitted initial bids for a stake that Toshiba says will be
less than 20 percent of its NAND flash unit, two other sources
familiar with the bidding told Reuters.
(Reporting by Makiko Yamazaki, Kentaro Hamada, Junko Fujita and
Taiga Uranaka; Editing by Stephen Coates)