KKR eyes Honda's stake in Hero Honda - reports
KKR has approached Honda Motors to buy the 6% stake in its Hero Honda subsidiary it is looking to sell, Indian media has reported.
Local broadcasts note that KKR may have sent an expression of interest to Honda Motors, though the discussion is in its earliest phase and there is no news of the stake's worth. Other potential bidders have not been named.
Hero Honda is a joint venture launched in 1984 between India's Hero Group and Japan's Honda Motor Company. The team reportedly owns 52% of the entity, with Honda specifically holding a 26% stake in it. The company claims to be the largest two-wheeler manufacturing company in India and the ‘World No.1' two-wheeler company in terms of unit volume sales in a year by a single company.
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