KKR & Co.’s attempt to sell its Japanese power tool and life science equipment maker Koki Holdings Co. has stalled, according to people familiar with the matter.
Potential bidders including industry players couldn’t match KKR’s value expectations for the business at more than $2 billion, the people said, asking not to be identified because the matter is private. Restrictions on travel to Japan as well as higher supply chain costs also had a material impact on a potential transaction, the people said.
KKR bought Hitachi Koki Co. in 2017 for about $1.3 billion after completing a tender offer for the listed entity, whose biggest shareholder was Japanese conglomerate Hitachi Ltd. It later changed its name to Koki Holdings and re-branded its power tools to HiKOKI.
Read more: BNN Bloomberg
