SAN FRANCISCO/TOKYO, June 9 (Reuters) - Private equity firm Bain Capital is replacing rival KKR & Co LP in a Japanese government-led consortium that also includes Western Digital Corp to bid for Toshiba Corp’s chip unit, sources familiar with the matter said.
Bain would be a minority investor, said one of the sources. The sources declined to be identified as they were not authorised to speak to the media.
Western Digital, which jointly operates a key flash memory chip plant with Toshiba in Japan, recently presented an outline of the proposal to Toshiba, separate sources said.
A representative for Bain could not immediately be reached for comment. (Reporting by Liana Baker in SAN FRANCISCO and Junko Fujita in TOKYO; Additional reporting by Makiko Yamazaki; Editing by Edwina Gibbs)