Toshiba, KKR, Bain to bid for Panasonic healthcare unit -sources
TOKYO Aug 23 (Reuters) - Toshiba Corp, U.S. private equity firm Kohlberg Kravis Roberts & Co (KKR) and a consortium including Bain Capital are expected to participate in the final round of bids next week for Panasonic Corp's healthcare business, a deal that could fetch as much as $1.5 billion, sources with knowledge of the matter said on Friday.
Panasonic is looking to raise funds by selling shares in the healthcare unit, whose products include blood sugar monitoring equipment, hearing aids and electronic medical record-keeping systems.
The deadline for the second round of bids is set for Monday. U.S. investment fund Bain Capital has teamed up with Japanese trading house Mitsui & Co Ltd and Development Bank of Japan Inc for the auction, said the sources, who were not authorised to discuss the matter publicly.
Panasonic is expected to shortlist a bidder in early September for exclusive negotiations, the sources said.
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