The U.S. investor plans to buy Nissan-backed Calsonic for about $4 bln. It has already persuaded other Japanese bluechips to shed non-core businesses. Still, this is both bigger and falls within the sacrosanct auto industry. That highlights a sea-change in Japanese attitudes.
KKR, the U.S. buyout firm, agreed to buy Calsonic Kansei, a car-parts maker backed by Nissan Motor of Japan, for up to 498 billion yen ($4.5 billion).
In a statement after market close on Nov. 22, KKR said it would make a tender offer at 1,860 yen a share for Calsonic stock. Nissan, Japan's second-largest carmaker, has agreed to sell its roughly 41 percent stake in the company.
Rivals Bain Capital and MBK Partners had also bid for Nissan's stake, according to Thomson Reuters LPC.