Hitachi Koki headed for sale to KKR

|About: Hitachi Koki Co. Ltd. ADR (HKKIY)|By:, SA News Editor

Hitachi (OTCPK:HTHIY) intends to sell power tools unit Hitachi Koki (OTCPK:HKKIY) to U.S. private equity firm Kohlberg Kravis Roberts (NYSE:KKR), according to the Nikkei, in a deal estimated to exceed ¥150B ($1.3B).

The sale would enable Hitachi, which owns 51.2% of Hitachi Koki's voting rights, to sharpen focus on its main business segments such as infrastructure.

Hitachi Koki shares +16% in Tokyo.

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