Hitachi mulling over stake sale in US$1.9b Kokusai unit: sources

London

HITACHI LTD is considering a sale of its controlling stake in Hitachi Kokusai Electric Inc that could ultimately lead to a takeover of the entire unit, people familiar with the matter said.

Hitachi Kokusai, which produces equipment for semiconductor makers and wireless-network gear manufacturers, has drawn interest from potential bidders, said the people, who asked not to be identified because the discussions are private. The deliberations are at an early stage, and Hitachi may decide against a sale, the people said. Hitachi Kokusai had a market value of about US$1.9 billion as at Monday.