TOKYO, Aug 22 (Kyodo) – Nissan Motor Co. is likely to sell its headquarters building in Yokohama, near Tokyo, to U.S. investment fund KKR & Co., sources close to the matter said Thursday.
The Japanese automaker plans to use funds from the deal, expected to be worth around 90 billion yen ($609 million), to cover business restructuring costs, the sources said.
The company is overhauling its operations to restore profitability by reducing its global workforce and production capacity.
KKR is believed to have submitted the highest bid in a tender conducted by Nissan for the “sale and leaseback” of the building. The automaker is expected to officially decide by late September whether to move forward with the sale, according to the sources.
