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KKR leads the pack for sale of Panasonic’s healthcare arm

6 Sep 2013

Japanese electronics group Panasonic is to grant preferential rights to US private equity firm KKR in the sale of its healthcare division, according to the Nikkei.

Panasonic was first reported to be seeking to sell the unit in March, for up to ¥150bn ($1.5bn), with buyout majors including KKR named among possible suitors. In August an investor consortium led by US private equity firm Bain Capital was also said to have joined the race.

The proceeds will help Panasonic restructure its struggling consumer electronics business.

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