Toshiba is set to offload its memory business on 1 June after the sale was given approval by the Chinese government.
The troubled vendor has been looking to flog its memory business to offset huge losses that stemmed from its US nuclear division Westinghouse, which it sold earlier this year.
The chip division is set to be acquired for $18bn by a consortium led by Bain Capital, which includes the likes of Apple, Dell, Kingston and Seagate.
Bain Capital and the other investors have formed a new company, named K.K Pangea, to facilitate the deal.
In a statement Bain Capital said: "We are making this important investment because we see the opportunity to further grow Toshiba Memory Corporation.
"This transaction will help ensure a competitive global semiconductor market and protect the supply chain from potential disruption.
"The Bain Capital-led consortium has committed to make significant capital investments to help develop and grow semiconductor technology. This consortium of companies brings together leading industry players who will invest significant resources and work together to help ensure the semiconductor industry remains highly competitive and can respond to fast-changing demands."
The deal has appeared to be in jeopardy numerous times since first being revealed in September last year.
Soon after the announcement Apple was rumoured to have been stalling on the terms of the agreement, with rival bidder KKR tempting it to switch allegiances.
In January Toshiba was mooted to be considering an IPO for the memory unit instead, after a shares issuance led to a recovery of the vendor's financial situation.
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