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Business

Nissan cuts group ties even as Toyota tightens them

Nissan CEO Carlos Ghosn

TOKYO -- Nissan Motor's sale of a core subsidiary shows the extent to which CEO Carlos Ghosn is willing to dismantle the Japanese automaker's supplier network, taking a different path from rival Toyota Motor.

Nissan on Tuesday confirmed plans to sell its 41% stake in Calsonic Kansei to U.S. private equity firm Kohlberg Kravis Roberts, which intends to buy the rest of the parts maker as well through a tender offer next February. At an offer price of 1,860 yen per share, a full acquisition would cost 498.3 billion yen ($4.48 billion) and mark KKR's biggest purchase in Japan to date.

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