(Reuters) – U.S. private equity firm KKR & Co LP (N:KKR) and Japanese government-backed fund, Innovation Network Corp of Japan (INCJ), will submit some pot offer for Toshiba Corp's (T:6502) memory chip unit, the Nikkei business daily reported on Friday.
Toshiba, the second-biggest NAND chip producer after Samsung Electronics (KS:005930), really wants to sell almost all – or all – of its flash-memory chip business, simply because it seeks to pay charges at its U.S. nuclear business, Westinghouse.
KKR is anticipated to sign up in a few days from a second bidding round after performing required groundwork on Toshiba's memory chip business, the Nikkei report said.
INCJ could spend money on the Toshiba business when it made sense, Japan's industry and trade minister had said on Wednesday.
Toshiba has narrowed the industry bidders to four suitors, people experienced with the task have said: Western Digital Corp (O:WDC), Broadcom Ltd (O:AVGO), South Korea's SK Hynix (KS:000660), and Foxconn (TW:2317), the world's largest contract electronics maker.
KKR and INCJ would not immediately interact with requests for comment.