Hitachi aims to sell $1.56bn Hitachi Transport stake to KKR: Nikkei Asia

TOKYO: Hitachi Ltd is planning to sell 40 percent of its stake in Hitachi Transport, worth $1.56 billion, to US private equity firm Kohlberg Kravis Roberts, Nikkei Asia reported, without citing the sources. 

According to the report, Hitachi will retain a 10 percent stake in the logistics firm, while KKR is expected to launch a takeover bid to acquire the remaining 90 percent. 

The report noted that KKR is expected to invest more than $4.69 billion on the deal to take Hitachi Transport private. 

The Nikkei Asia report also added that Hitachi will not engage in the logistics business, but will continue to collaborate in logistics systems and other areas.