Global private equity firms Bain Capital, Carlyle Group and KKR & Co are among p...
HONGKONG/FRANKFURT/TOKYO - Global private equity firms Bain Capital, Carlyle Group and KKR & Co are among potential bidders for Japanese conglomerate Hitachi Ltd’s chemical unit, three people familiar with the situation told Reuters.
Hitachi plans to sell its majority stake in Hitachi Chemical and the process could start as early as this month, Reuters has reported. Hitachi Chemical’s share price, which closed at 2,992 yen apiece Thursday, has almost doubled since the beginning of this year, bouncing back from 2018 when it was hit by a series of scandals.
Hitachi last year agreed to buy a majority stake in ABB’s power grid unit. It said last month it would acquire U.S. firm JR Automation Technologies, which makes logistic systems using industrial robots, for $1.4 billion.
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