A PYMNTS Company

Bain-led Consortium To Buy Hitachi Metals For $3.5B

By  |  April 28, 2021

A consortium led by global private equity firm Bain Capital will buy all the shares of Hitachi Metals for 817 billion yen (US$3.5 billion), reported Reuters.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    For Hitachi, which currently owns 53% of Hitachi Metals, the deal is the latest divestiture in a decade-long business overhaul to pivot the business from electronics hardware to digital services.

    Hitachi is expecting to book an extraordinary profit of 328 billion yen in the current financial year, it said in a separate statement.

    Hitachi has sought buyers since last year for the business which has posted net losses for two consecutive years in a deteriorating business environment.

    In recent years it has also sold chemical unit Hitachi Chemical to Showa Denko and diagnostic imaging business to Fujifilm Holdings.

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.