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Hitachi to sell $1.6 billion Hitachi Transport stake to KKR, Nikkei says -Breaking


© Reuters. FILEPHOTO: Hitachi’s logo can be seen on a Zurich office building September 10, 2020. REUTERS/Arnd Wiegmann GLOBAL BUSINESS WEEK AHEAD

TOKYO (Reuters) – Hitachi (OTC) Ltd intends to sell the majority of its 40% interest in Hitachi Transport System Ltd, to U.S. equity firm Kohlberg Kravis Roberts for $1.56billion, according to a newspaper report on Thursday.

Hitachi will hold a 10% interest in the logistics company, and KKR is expected launch a bid to purchase the remaining 90%. Nikkei stated that KKR will spend over 600 billion yen ($4.69 trillion) to acquire Hitachi Transport.

($1 = 127.9400 yen)