Nov 22 Nissan Motor Co will sell 41
percent of its stake in auto parts supplier Calsonic Kansei Corp
to U.S. buyout firm KKR & Co, the Nikkei
KKR will launch a tender offer to obtain all outstanding
shares in Calsonic for about 400 billion yen ($3.60 billion),
the Japanese newspaper reported.
Calsonic is said to receive nearly 200 billion yen in
proceeds, which will be used for the development of new safety
and environmental technologies, the report said.
KKR's Calsonic deal will be announced on Tuesday, according
to the Nikkei.
Calsonic, which makes air conditioning units, compressors
and radiators, posted an operating profit of 38.24 billion yen
on sales of 1.05 trillion yen for the year ended March 31.
More than 80 percent of Calsonic's sales come from Nissan,
the newspaper said.
Nissan and KKR were not immediately available for comment.
($1 = 111.2 yen)
(Reporting by Ahmed Farhatha in Bengaluru; Editing by Maju