Japan banks set to commit $12.7 billion financing for Kioxia-WDC merger

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 66%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

TOKYO : Japan's top banks are set to commit to 1.9 trillion yen ($12.7 billion) financing to support the merger of Kioxia Holdings and Western Digital's flash memory business, four people familiar with the matter told Reuters.

The financing support would move a step closer to closing the deal that would create one of the world's biggest memory chipmakers, but it is almost certain for the transaction to face heavy anti-trust scrutiny, particularly from China.

However, concerns about China or the position of SK Hynix, the world's No.3 maker of NAND flash memory chips, are not impacting the banks' decisions to finance the deal, the first four sources said. The finalised deal would likely see Western Digital a majority owner of the combined company, the sources said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines