The automaker is hiving off its 41 percent stake to US buyout firm KKR, which is buying Japan-based Calsonic in a deal valued at about $4.5 billion.
KKR is paying 1,860 yen ($17) per share for Calsonic, which makes vehicle interiors, climate control systems, compressors, exhaust systems and electronics. That is a 28 percent premium on Calsonic's closing share price Tuesday.
Calsonic – which has about 22,000 employees and 1.05 billion yen in annual sales – also supplies other automakers including Renault, Isuzu, Daimler and General Motors.
Nissan has been moving to sell off lesser businesses as it turns it attention to developing technology including for cars and self-driving vehicles, which it sees as a key part of its future business.
The Japanese automaker is also eyeing a push into Southeast Asia after picking up a stake in Mitsubishi Motors.
Source: AFP
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za
