Japanese Toshiba Corporation and its partner Western Digital, which challenged the sale of their joint business for several months, announced the settlement of all litigations.
The subject of the dispute was the sale of the Toshiba division for the production of microprocessors. Western Digital refused to sell the business of manufacturing NAND memory chips to any of the third parties and even filed a lawsuit in the Supreme Court of California, demanding to block the negotiations.
Toshiba received a lot of suggestions from potential buyers, but in the end chose in favor of a consortium led by the U.S. investment fund Bain Capital.
“With the concerns about litigation and arbitration removed, we look forward to renewing our collaboration with Western Digital,” Yasuo Naruke, Toshiba executive vice president and chief executive of the microchip unit, Toshiba Memory Corporation, said.