KKR among suitors for Panasonic healthcare unit

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UJapanese electronics group Panasonic is reportedly looking to sell its healthcare unit for up to ¥100bn ($1.05bn), with buyout majors including KKR named among possible suitors.

Panasonic’s sale is in line with the corporation’s plans to divest  its non-core assets to make up for its expected losses this year according to a Nikkei newspaper report, which did not cite any sources.

The unit posted losses of ¥8.8bn on revenues of ¥133.6bn for the year ending March 2012.

Panasonic has said that it expects to report a ¥765bn loss for the current fiscal year, which will conclude at the end of the month.

Earlier this month Panasonic sold a property in Tokyo for ¥50bn.

Last week US satellite TV group DirecTV decided to pull out of the bidding process for Vivendi’s Brazilian phone unit GVT, leaving a consortium led by buyout majors KKR and Apax as the only suitor.

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