April 21 U.S. private equity firm KKR & Co LP
and Japanese government-backed fund, Innovation Network
Corp of Japan (INCJ), will submit a joint offer for Toshiba
Corp's memory chip unit, the Nikkei business daily
reported on Friday.
Toshiba, the second-biggest NAND chip producer after Samsung
Electronics, wants to sell the majority - or all -
of its flash-memory chip business, as it seeks to cover charges
at its U.S. nuclear business, Westinghouse.
KKR is expected to participate next month in a second
bidding round after performing due diligence on Toshiba's memory
chip business, the Nikkei report said.
INCJ could invest in the Toshiba business if it made sense,
Japan's industry and trade minister had said on Wednesday.
Toshiba has narrowed the field of bidders to four suitors,
people familiar with the process have said: Western Digital Corp
, Broadcom Ltd, South Korea's SK Hynix
, and Foxconn, the world's largest contract
KKR and INCJ did not immediately respond to requests for
(Reporting by Amy Caren Daniel in Bengaluru; Editing by Sai