(Corrects story throughout after source clarifies that Bain is
in talks to team up with Japan fund, not is replacing KKR in
TOKYO, June 9 Bain Capital and a Japanese
state-backed fund are in talks about teaming up to bid for
Toshiba Corp's prized chip unit, sources familiar with
the matter said.
The U.S. private equity firm would replace rival KKR & Co LP
as the main partner of the state-backed fund and would
be a minority investor in the consortium under the plan being
discussed, one of the sources said.
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 its proposal to Toshiba, separate sources said. It
has been planning to work with the Japanese state-backed fund
and KKR in its proposal.
(Reporting by Junko Fujita in TOKYO; Additional reporting by
Makiko Yamazaki; Editing by Edwina Gibbs)