Market Chatter: Bain-Backed Proterial Eyes 200 Billion Yen Sale of Non-Core Units

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Market Chatter: Bain-Backed Proterial Eyes 200 Billion Yen Sale of Non-Core Units

MT Newswires Live09:11

Proterial, the Japanese advanced materials maker owned by Bain Capital, is exploring the sale of its wire, cable, and automotive parts business, Bloomberg reported Wednesday, citing people familiar with the matter.

The transaction is expected to value the division at between 150 billion yen and 200 billion yen, the report said.

These assets were spun off earlier this year into a separate entity, Proterial Cable Solutions, and have already drawn early interest from investment funds and overseas buyers, the report said.

Proterial, formerly Hitachi Metals, was delisted in 2022. The company has reportedly appointed a financial advisor and initiated bidding.

Proterial declined to comment to MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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