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Kohlberg Kravis Roberts & Co. L.P. to Buy Panasonic Corporation of North America (PC) Health Care Unit for $1.67 Billion



9/27/2013 7:44:32 AM

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Kohlberg Kravis Roberts agreed on Friday to buy the health care unit of Panasonic for 165 billion yen, or $1.67 billion, as the Japanese company tries to streamline its operations after two years of steep losses. After the deal, K.K.R. will own 80 percent of Panasonic Healthcare, while Panasonic will retain 20 percent, according to a joint statement. Panasonic said it would cooperate with K.K.R., which is based in New York, in managing the health care business.

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