Hitachi Koki share trade halted after report it will be sold to KKR

TOKYO Trade in Hitachi Koki Co (6581.T) shares was suspended by the Tokyo Stock Exchange on Wednesday morning after a report that private equity firm KKR & Co (KKR.N) will buy the Japanese power tools company from parent Hitachi Ltd (6501.T).

The deal is estimated to exceed 150 billion yen ($1.3 billion), the Nikkei business daily reported, adding that negotiations are in the final stages and an official agreement between Hitachi and KKR could be reached next month.

The Tokyo bourse said on its website that trade was halted pending a company statement on the report.

(Reporting by Chris Gallagher; Editing by Eric Meijer)

Source: Reuters

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