Private equity firm Baring has agreed to buy a 51 per cent stake in the audio and video unit of Japanese car electronics group Pioneer Corp.
Onkyo Corp has also agreed to buy an interest in Pioneer Home Electronics and the companies will decide who will own the remaining 49 per cent, according to Japan’s Nikkei publication.
Earlier this month Hong Kong-based Baring invested in Chinese group COFCO’s subsidiary COFCO Meat alongside KKR, HOPU and Boyu.
KKR agreed to invest around $150m from its second Asian fund and the consortium will buy a 70 per cent stake for $270m, according to a Reuters report.
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