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.
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.
