Japan’s Nissan to sell parts maker Calsonic Kansei to KKR

Nissan Motor Co has decided to sell its entire stake in Japanese auto parts maker Calsonic Kansei Corp to U.S. private equity firm KKR &Co as part of a $3.8 billion takeover, the Nikkei daily reported, without citing its sources.

KKR then will try to buy the remaining shares in Calsonic from other shareholders through a takeover bid, bringing the total deal to as large as 400 billion yen ($3.80 billion), the report said.

Bain Capital and MBK Partners were also bidding to buy the auto parts maker, which has a market value of about 280 billion yen, Thomson Reuters LPC had reported earlier.

Trading of Calsonic Kansei was suspended by the Tokyo Stock Exchange on Friday morning. A Calsonic Kansei spokesman said the company had not announced a sale to KKR.