TOKYO (Reuters) - U.S. buyout firm KKR said on Wednesday it has agreed to buy Hitachi Ltd's electronic equipment unit for 257 billion yen ($2.3 billion) with investment fund Japan Industrial Partners Inc (JIP).
KKR and JIP will pay 2,503 yen for each Hitachi Kokusai Electric Inc share, a 6.4 percent discount from Wednesday's close, according to a joint statement from KKR and Japan Industrial Partners.
Hitachi Ltd, the largest shareholder in Hitachi Kokusai, said in a separate statement it would reduce its ownership to 20 percent after the deal is completed.
($1 = 111.1700 yen)
(Reporting by Junko Fujita; Editing by Christian Schmollinger)
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