April 24, 2019 / 10:28 PM / a month ago

Japan's Hitachi plans to sell chemical unit -Nikkei

April 25 (Reuters) - Japan’s Hitachi Ltd plans to sell its listed chemical unit as it streamlines its business portfolio, Nikkei reported on Thursday.

Hitachi Chemical Co Ltd has a market value of about 545.75 billion yen ($4.87 billion) based on Wednesday’s closing price of 2,621 yen per share.

Hitachi aims to start taking bids as early as May, Nikkei said, citing interest from domestic rivals and U.S. private equity giants KKR & Co Ltd and The Carlyle Group.

Mitsubishi Chemical Holdings, Mitsui Chemicals and Sumitomo Chemical are reportedly interested, the Japanese newspaper added.

$1 = 112.0500 yen Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Richard Chang

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