Nissan said Tuesday it is selling its stake in auto parts company Calsonic Kansei as the Japanese firm casts off non-core businesses to focus on electric vehicles and self-driving cars. The automaker is hiving off its 41 percent stake to US buyout firm KKR, which is buying Japan-based Calsonic in a deal valued at about $4.5 billion.
KKR is paying 1,860 yen ($17) per share for Calsonic, which makes vehicle interiors, climate control systems, compressors, exhaust systems and electronics. That is a 28 percent premium on Calsonic's closing share price Tuesday.