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Business deals

Hitachi in talks with Bain-led group to sell listed metals unit

Industrial group hopes to reap $7bn relinquishing stake in Hitachi Metals

Hitachi is narrowing down its operations to better compete with overseas rivals such as Siemens.    © Reuters

TOKYO -- Hitachi has given preferential negotiating rights regarding a sale of its metals unit to a consortium of investment funds led by Bain Capital, a possible deal estimated to top 800 billion yen ($7.27 billion), Nikkei learned on Wednesday.

Bain, Japan Industrial Partners and Japan Industrial Solutions are in talks for Hitachi's roughly 53% stake in Hitachi Metals. The unit is currently listed on the Tokyo Stock Exchange.

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