Hitachi mulls sale of metal unit to Bain Capital-led group

Economy

Japanese industrial conglomerate Hitachi Ltd. has decided to advance talks with a consortium led by U.S. private equity fund Bain Capital to sell its subsidiary Hitachi Metals Ltd., sources familiar with the matter said Thursday. Hitachi will negotiate with the group, which also involves Japan Industrial Partners Inc., a Japanese investment fund, the sources said, in a potential deal that could be worth several hundred billion yen given Hitachi Metals' market capitalization of about 800 billion yen ($7.3 billion). Hitachi is seeking to sell its over 50 percent stake in Hitachi Metals as the Ja...

Kyodo News

Kyodo News