Mitsui to join KKR as an investor in Panasonic Healthcare
18-Nov-16, Business Wire
Mitsui, one of Japan’s largest diversified corporations, and global investment firm KKR announced the signing of a definitive share purchase agreement for Panasonic Healthcare, a global provider of healthcare devices. Under the agreement, Mitsui will acquire a 22% stake in Panasonic Healthcare for JPY54.1 bn (USD510 mn).
%20Panasonic.jpg "Mitsui to join KKR as an investor in Panasonic Healthcare (c) Panasonic")
Image: Panasonic
Mitsui will acquire its shares from KKR, which invested in Panasonic Healthcare in 2014. Following the completion of this transaction, KKR will own approximately 58%, Mitsui approximately 22%, and Panasonic Corporation approximately 20%.
Panasonic Healthcare develops, manufactures, and sells healthcare devices, focusing on blood glucose monitoring systems and strips for people with diabetes. In January 2016, it acquired Ascensia Diabetes Care, formerly the diabetes care unit of Bayer, a provider of diabetes care solutions in 125 countries around the world.