TOKYO & SAITAMA, Japan--(BUSINESS WIRE)--
Global investment firm KKR
and leading Japanese automotive components manufacturer Calsonic
Kansei Corporation ("CK") today announced the completion of a tender
offer by CK Holdings Co., Ltd. (the "Offeror"), an entity owned by KKR
investment funds, for all the existing common shares of CK. 95.21% of
the existing common shares has been tendered through the tender offer
and will be acquired by the Offeror. In the tender offer, Nissan Motor
Co., Ltd., CK's largest shareholder, tendered its approximate 41%
holding of CK's common shares. After the acquisition of the tendered
shares, the Offeror will implement a series of procedures to acquire the
remaining common shares of CK.
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CK is a leading supplier of automotive components including cockpit
systems, thermal systems, exhaust systems and advanced electronic
products. Nissan-Renault-Mitsubishi Alliance is the primary customer for
CK, which also supplies a variety of other automotive groups including
Isuzu, Mazda, VAG, and General Motors.
Mr. Hiroshi Moriya, President and CEO, Calsonic Kansei Corporation,
said, "We are excited to work alongside the KKR team given their
extensive global expertise in the auto, manufacturing and services
sectors, as well as their shared goals for our business. Through this
partnership, we look forward to seeing Calsonic Kansei grow by reaching
new markets and providing innovative new products to customers
Mr. Hiro Hirano, Member of KKR and CEO of KKR Japan, said, "Calsonic
Kansei is a world-class leader in the auto-parts sector with excellent
potential for growth. We are delighted to have successfully completed
this transaction, and in the years to come, we will support the company
and its employees in achieving their ambitions to make this high-caliber
business even better."
KKR makes its investment predominantly from its Asian II Fund.
About Calsonic Kansei
Calsonic Kansei is an automotive company, and operates a global network
across the world by having its global headquarters in Japan, and its
management operations in the Americas, Europe, China and Asia. In
addition, there are development operations in Japan, U.S.A., Mexico,
U.K., France, China, Thailand and India, and 78 production sites
throughout the world, from which products can be supplied to all
customers in an optimal manner.
More than 20,000 employees of the company are striving to provide
appealing products to customers with great teamwork across national
boundaries. For additional information about Calsonic Kansei
Corporation, please visit Calsonic Kansei's website at www.calsonickansei.co.jp/english/index.html.
KKR is a leading global investment firm that manages investments across
multiple asset classes including private equity, energy, infrastructure,
real estate, credit and hedge funds. KKR aims to generate attractive
investment returns by following a patient and disciplined investment
approach, employing world‐class people, and driving growth and value
creation at the asset level. KKR invests its own capital alongside its
partners' capital and brings opportunities to others through its capital
markets business. References to KKR's investments may include the
activities of its sponsored funds. For additional information about KKR
& Co. L.P. (NYSE:KKR), please visit KKR's website at www.kkr.com
and on Twitter @KKR_Co.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170323005523/en/
CSR/Public Relations & IR Group
Anita Davis, +852 3692-7335
Kristi Huller, +1 212-230-9722
John Sunley, +81-3-5425-7220
Source: KKR & Co. L.P.
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