Nisaan to sell its stake in Calsonic Kansei to KKR.
Kohlberg Kravis Roberts & Co LP (KKR) has agreed to pay $4.5bn for Calsonic Kansei, a leading automotive component supplier, in a move that breaks the Japanese company’s longstanding and close ties with Nissan.
Nissan has agreed to tender its 41 per cent stake in Calsonic as part of the KKR takeover, and the deal will give the Japanese carmaker greater flexibility to work with new suppliers and thereby improve its competitiveness in the fast-developing markets for electric and self-driving vehicles.
Calsonic, meanwhile, should be able to restructure and reduce its heavy reliance on the Nissan-Renault alliance for sales. “Nissan is hoping to further increase the competitiveness of Calsonic Kansei, one of our most important partners,” said Yasuhiro Yamauchi, chief competitive officer at the carmaker. “This is also the best choice for Calsonic Kansei and its shareholders.”
The deal is KKR’s biggest ever transaction in Japan and ranks as the largest takeover of a Japanese industrial company by private equity.