Fujitsu kicks off auction for air conditioning unit - sources

Fujitsu General

19/01/2023 14:00

By Kane Wu and Makiko Yamazaki
       HONG KONG/TOKYO, Jan 19 (Reuters) - Japan's Fujitsu Ltd
 6702.T  has kicked off an auction process for its listed
air-conditioning manufacturing unit Fujitsu General Ltd  6755.T 
with initial bids due on Friday, people with knowledge of the
matter said.
    The sale is expected to attract interest from multiple
private equity firms and strategic investors, said the people,
who declined to identified as the talks are private.
    Lazard Ltd  LAZ.N  is advising Fujitsu General and UBS Group
AG  UBSG.S  is advising Fujitsu, two of the people said.
    UBS declined to comment. Lazard and Fujitsu General could
not be reached for immediate comment. 
    Fujitsu has said it plans to sell its 42% stake in Fujitsu
General, as the Japanese electronics conglomerate accelerates
its business overhaul. A Fujitsu spokesperson said the company
cannot comment further.
($1 = 128.4900 yen)
 (Reporting by Kane Wu in HONG KONG and Makiko Yamazaki in
TOKYO; Additional reporting by Mayu Sakoda
Editing by Tomasz Janowski)
 ((Makiko.Yamazaki@thomsonreuters.com; +81-3-4563-2805;))