TOKYO Hitachi Ltd (6501.T) said on Wednesday it was considering selling Hitachi Koki Co (6581.T), after a media report that it was in talks to offload the power tools unit to KKR & Co (KKR.N) for more than 150 billion yen ($1.3 billion).
The Japanese conglomerate said in a statement that it was considering various options to strengthen its business, including the sale of Hitachi Koki, but that nothing had been decided. It did not name any prospective buyers.
The Nikkei business daily reported that negotiations between Hitachi and the U.S. private equity firm were in the final stages and that an official agreement could be reached next month.
(Reporting by Chris Gallagher; Editing by Eric Meijer)