Bain and KKR are eyeing Hitachi's $6 bln chemicals arm. Steady cash flow, modest debt – plus turnaround prospects – account for the attraction. But it’s pricey relative to rivals, and a push into other areas could take years to pay off, says AlecMac11
Private equity firms Bain Capital, Carlyle and KKR are among potential bidders for Hitachi’s majority stake in its Tokyo-listed chemical division, Reuters reported on May 17, citing three people familiar with the situation.
Hitachi has shortlisted a group of financial sponsors and strategic suitors for the bidding process, after having initial conversations with interested parties earlier this year, the report added.
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