Nissan to Sell Calsonic Kansei Stake to KKR

TOKYO—Nissan Motor Co. said Tuesday that it would sell its stake in the company's largest supplier Calsonic Kansei Corp. to private-equity firm KKR & Co.

Japan's second-largest auto maker had been looking for a way to inject cash into Calsonic Kansei, which is falling behind other suppliers in developing cutting-edge automotive technologies for self-driving and internet-connected vehicles.

Nissan owns 41% of Calsonic Kansei, and the deal should be a ¥ 206.8 billion ($1.87 billion) windfall for the car maker.

The agreement comes as KKR also said it will offer to buy all outstanding shares in Calsonic Kansei in February for ¥ 1,860 a share, which would value the company at ¥ 498.3 billion.

Write to Sean McLain at sean.mclain@wsj.com

(END) Dow Jones Newswires

November 22, 2016 06:05 ET (11:05 GMT)

Nissan Motor (PK) (USOTC:NSANY)
Historical Stock Chart
From Jun 2024 to Jul 2024