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.
($1 = 105.2000 yen) (Reporting by Junko Fujita; Editing by Stephen Coates)
Recent Articles on M&A
Source: Reuters.com
