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Business deals

Hitachi to sell metals unit as US investors circle

Exclusive: Bain Capital and KKR among potential bidders for Hitachi Metals

Hitachi Metals will be put on the block by Hitachi, marking the final phase of the Japanese conglomerate's reorganization.

TOKYO -- Hitachi has begun accepting bids for listed unit Hitachi Metals, Nikkei has learned, looking to unload what was once considered a core subsidiary as it nears the end of a major group realignment.

Big American investment funds including Bain Capital and KKR are reportedly considering offers. Hitachi, which owns roughly 53% of the unit, plans to narrow down the candidates within the month in preparation for choosing a buyer.

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