| TOKYO, Sept 3
TOKYO, Sept 3 Japanese car electronics maker
Pioneer Corp is in the final stage of selling its
disc-jockey equipment business, which could fetch about 60
billion yen ($570 million), two people with knowledge of the
Pioneer has hired Bank of America Merrill Lynch to handle
the sale, said the sources, asking not to be named because the
process has not been made public.
Global private equity firms are among the final bidders,
Pioneer, which is selling off non-core assets to focus on
the automotive electronics business, in June agreed to sell most
of its loss-making audio-video operations to a consortium
comprising Hong Kong-based Baring Private Equity Asia and audio
equipment maker Onkyo Corp. That deal
has yet to close.
The DJ equipment business, which makes speakers and mixing
equipment, was profitable in the latest financial year to March,
a source familiar with the matter said.
Pioneer and Bank of America Merrill Lynch declined to
(1 US dollar = 104.9300 Japanese yen)
(Additional reporting by Reiji Murai; Writing by Junko Fujita;
Editing by Edmund Klamann)