Japan’s Next Billion Dollar Buyout


September 12, 2013

 This week’s deal of the week is a rumored buyout by KKR & Co. and Japan’s state-backed Innovation Network Corp, according to Bloomberg. The target is a majority stake in Panasonic’s health-care unit which develops digital medical record systems and diagnostic tools for human healthcare.


The bidding process is at an early stage, but the article said that bidders are valuing the healthcare unit at USD 1.5 billion. Panasonic plans to keep a stake in the unit. Another much larger transaction is also close to coming to an end this week.


It is a secondary deal that sees Ares Management and the Canada Pension Plan Investment Board in advanced talks to acquire the American retailer Neiman Marcus from TPG Capital LP, Warburg Pincus LLC and Leonard Green Partners LP, according to Reuters. The high-end retail chain is being valued at about USD 6 billion. If the secondary deal goes through, Neiman Marcus will not go public, according to Reuters.

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