Japan’s Nissan to sell parts maker Calsonic Kansei to KKR
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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.
Questions & Answers
Q.What is the total value of the deal for Calsonic Kansei?
What is the total value of the deal for Calsonic Kansei?
The Nikkei daily reported that the total deal, including KKR buying remaining shares from other shareholders, could be as large as 400 billion yen, or approximately $3.80 billion.
Q.Which other companies were interested in buying Calsonic Kansei?
Which other companies were interested in buying Calsonic Kansei?
Thomson Reuters LPC had previously reported that Bain Capital and MBK Partners were also bidding to acquire the auto parts maker. KKR was ultimately successful in its bid.
Q.Has Calsonic Kansei officially confirmed the sale to KKR?
Has Calsonic Kansei officially confirmed the sale to KKR?
A spokesman for Calsonic Kansei stated that the company had not announced a sale to KKR. The news of the sale was reported by the Nikkei daily.
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