Toshiba Co., Ltd. Announcedthat they will sell the chip business to Bain Capital for $18 billion.

Toshiba Co., Ltd. announced that they agreed to sell the chip operating department to Bain Capital.

They cleared at a statement that A sale agreement has been signed with Bain Capital the later offered about2 trillion yen($18 billion).

Earlier in the day, Bloomberg cited people familiar with the matter as saying Toshibahas agreed to sell its chip unit to the Bain Capital at a board meeting today.

Bain Capital also include Apple, Dell and other several companies.Under the deal, Bain Capital, Toshiba, SK hynix and Japan’s Hoya Corporation will contribute about 960 billion yen($8.6 billion) and Apple, Dell,Kingston and Seagate will contribute 440 billion yen($4 billion) familiar with the matter said.The consortium will also received about 600 billion yen.