KKR completes tender offer for Calsonic Kansei

KKR said March 23 that it has completed its tender offer for Calsonic Kansei Corp, buying 95.21 percent of existing common shares. Nissan Motor Co Ltd tendered about 41 percent of its Calsonic shares. In November, KKR said it would buy Nissan Motor-backed auto parts maker Calsonic Kansei for up to 498.3 billion yen ($4.5 billion), Reuters reported.


TOKYO & SAITAMA, Japan–(BUSINESS WIRE)– Global investment firm KKR and leading Japanese automotive components manufacturer Calsonic Kansei Corporation (“CK”) today announced the completion of a tender offer by CK Holdings Co., Ltd. (the “Offeror”), an entity owned by KKR investment funds, for all the existing common shares of CK. 95.21% of the existing common shares has been tendered through the tender offer and will be acquired by the Offeror. In the tender offer, Nissan Motor Co., Ltd., CK’s largest shareholder, tendered its approximate 41% holding of CK’s common shares. After the acquisition of the tendered shares, the Offeror will implement a series of procedures to acquire the remaining common shares of CK.

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CK is a leading supplier of automotive components including cockpit systems, thermal systems, exhaust systems and advanced electronic products. Nissan-Renault-Mitsubishi Alliance is the primary customer for CK, which also supplies a variety of other automotive groups including Isuzu, Mazda, VAG, and General Motors.

Mr. Hiroshi Moriya, President and CEO, Calsonic Kansei Corporation, said, “We are excited to work alongside the KKR team given their extensive global expertise in the auto, manufacturing and services sectors, as well as their shared goals for our business. Through this partnership, we look forward to seeing Calsonic Kansei grow by reaching new markets and providing innovative new products to customers worldwide.”

Mr. Hiro Hirano, Member of KKR and CEO of KKR Japan, said, “Calsonic Kansei is a world-class leader in the auto-parts sector with excellent potential for growth. We are delighted to have successfully completed this transaction, and in the years to come, we will support the company and its employees in achieving their ambitions to make this high-caliber business even better.”

KKR makes its investment predominantly from its Asian II Fund.

About Calsonic Kansei

Calsonic Kansei is an automotive company, and operates a global network across the world by having its global headquarters in Japan, and its management operations in the Americas, Europe, China and Asia. In addition, there are development operations in Japan, U.S.A., Mexico, U.K., France, China, Thailand and India, and 78 production sites throughout the world, from which products can be supplied to all customers in an optimal manner.

More than 20,000 employees of the company are striving to provide appealing products to customers with great teamwork across national boundaries. For additional information about Calsonic Kansei Corporation, please visit Calsonic Kansei’s website atwww.calsonickansei.co.jp/english/index.html.

About KKR

KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world‐class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners’ capital and brings opportunities to others through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE:KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

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