Carrefour's China business is valued at around $1 billion. The retailer is working with BNP Paribas on the deal.
Hitachi plans to sell its majority stake in Hitachi Chemical and the process could start as early as this month.
The layoffs would come after a government campaign against debt financing left start-ups vying for shrinking pools of fresh capital.
CHJ sees itself valued at at least $2.5 billion ahead of the new funding round and has hired Goldman Sachs to advise on the fundraising.
The deal would mark KKR's first infrastructure investment in Asia since it set up a team late last year that focuses on the sector in the region.
Investors were blunt about HNA's role in the company's troubles, including accusations that it was siphoning off cash, which the conglomerate denies.
The deal - recommended by the Dulux board - is the latest in a slew of Japanese acquisitions in Australia.
Aviation-to-financial services conglomerate HNA completed the acquisition of Singapore-based CWT in December 2017
M&A involving Asia Pacific companies slid 39% in the first quarter year-on-year to $186 billion, the worst start to a year since 2014.
IPOs & Markets
The move highlights the fierce competition between China's EV makers as they seek the capital needed to survive in a fast-growing market, also the wor
© Copyright DEALSTREETASIA 2014-2019 All rights reserved.
Forgot your password?
We will never share your information with third parties.
Already have an account? Sign in here
If you don’t already have an account click the button below to create your account.