June 1 (Reuters) – Fujitsu Ltd's (6702.T) controlling stake in Shinko Electrical Industries Co (6967.T) has attracted pursuits from Apollo World Administration Inc (APO.N) and Bain Capital as potential bidders, Bloomberg Information reported on Wednesday.
Dai Nippon Printing Co (7912.T), Japan Funding Corp and KKR & Co (KKR.N) have additionally expressed curiosity within the stake, the report stated, citing individuals conversant in the matter.
Fujitsu's stake is valued at round $2.7 billion primarily based on the most recent inventory worth of Shinko, Bloomberg reported. In an earlier replace, the information company had pegged it at $2.4 billion.
A spokesperson for Fujitsu stated the corporate is contemplating “varied steps to maximise its worth as an unbiased enterprise,” declining to remark additional on the stake sale. KKR declined to touch upon the report.
Bain, Apollo and Dai Nippon didn't instantly reply to Reuters' request for feedback. Shinko and Japan Funding Corp couldn't be instantly reached.
Fujitsu has been weighing choices for Shinko as its largest stakeholder, trying to streamline operations, the report stated, including that potential bidders might observe extra warning in valuing the agency its enterprise entails nationwide safety points.
Reporting by Rahat Sandhu in Bengaluru; Enhancing by Nivedita Bhattacharjee
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