Panasonic to favour KKR in healthcare sale talks -Nikkei

TOKYO, Sept 6 Fri Sep 6, 2013 11:31am IST

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A statue of Ganesh, the deity of prosperity, is carried in a taxi to a place of worship on the first day of the ten-day-long Ganesh Chaturthi festival in Mumbai August 29, 2014. REUTERS/Danish Siddiqui

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TOKYO, Sept 6 (Reuters) - Japan's Panasonic Corp is planning to grant preferential negotiating rights to U.S. private equity firm Kohlberg Kravis Roberts & Co (KKR) in the partial sale of its healthcare unit, the Nikkei business newspaper said on Friday.

Panasonic has been looking to raise funds by selling shares in the healthcare unit, whose products include blood sugar monitoring equipment and electronic medical record-keeping systems.

The Nikkei said Panasonic plans to sell a majority stake in its medical unit for around 150 billion yen ($1.5 billion) and to enter final negotiations with the goal of reaching agreement on various conditions before the end of this month.

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