Hitachi said to sell $1.6b Hitachi Transport stake to PE giant KKR

Hitachi said to sell $1.6b Hitachi Transport stake to PE giant KKR

REUTERS/Yuya Shino

Hitachi Ltd is planning to sell most of its 40% stake in Hitachi Transport System Ltd to US private equity firm Kohlberg Kravis Roberts (KKR) for $1.56 billion, the Nikkei newspaper reported on Thursday.

Hitachi will retain a 10% stake in the logistics company while KKR is expected to launch a takeover bid to acquire the remaining 90%. KKR is expected to spend more than 600 billion yen ($4.69 billion) on the deal to take Hitachi Transport private, Nikkei said.

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