- Toshiba (OTCPK:TOSBF, OTCPK:TOSYY) will sell its TV unit to Hisense for $113.6M, according to Nikkei Asian Review.
- Toshiba will retain a 5% stake in Toshiba Visual Solutions after the sale.
- The company needs to divest businesses adding to its overall losses as it faces a potential delisting due to a bankrupt energy business. The TV unit had over $103M in losses as of last March.
- Toshiba has selected a seller for its chip unit, and the deal would keep the company afloat and listed. But the chip sale still faces regulatory hurdles and Western Digital (NASDAQ:WDC) lawsuits. And the departing unit would also take along most of Toshiba’s profits.
- Previously: Toshiba shareholders' meeting report: 99% vote for chip unit sale (Oct. 27)
- Previously: Toshiba's Q2 posts 76% profit increase from departing chip unit (Nov. 9)
- Previously: Toshiba weighs major capital raise (Nov. 10)
- Now read: Toshiba Corp. ADR 2017 Q2 - Results - Earnings Call Slides
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