US private equity firm Bain Capital LP on Thursday said it aims to list Toshiba Corp’s chip unit on the Tokyo Stock Exchange within three years, to cash in its investment after leading an $18 billion acquisition of the business.
Bain, whose consortium signed the purchase deal last week, also said it hopes to settle legal disputes over the transaction at an early stage with Western Digital Corp, Toshiba’s joint venture partner.
Toshiba aims to complete the sale by the end of its fiscal year in March. It plans to use the proceeds to plug a hole in its balance sheet caused by the bankruptcy of its US nuclear power subsidiary and save itself from potential delisting.
With the clock ticking, Bain filed for antitrust approval in China the day after signing, a person familiar with the matter said on Wednesday.