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Business deals

Calsonic lines up key public-private funding for $7bn Magneti deal

Mizuho and Development Bank of Japan's purchase of preferred shares spurs lending

Calsonic Kansei has expertise in electronic parts for self-driving systems, such as cockpit modules. (Photo courtesy of Calsonic Kansei)

TOKYO -- Mizuho Bank and the Development Bank of Japan each will purchase about 35 billion yen ($314 million) of preferred stock in the parent of Japanese auto parts maker Calsonic Kansei, Nikkei has learned, facilitating additional financing for the company's acquisition of an Italian supplier.

Parent company CK Holdings, a unit of American private equity fund KKR, also will receive roughly 650 billion yen in loans from a consortium of big Japanese financial institutions: Mizuho Bank, Sumitomo Mitsui Banking, MUFG Bank and Sumitomo Mitsui Trust Bank.

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