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Private equity firm KKR has acquired a majority stake in Hitachi Koki, including its power tools division, from Hitachi Ltd. The deal values KKR's stake at $1.3 billion.
Hitachi Koki Co., Ltd. decided to acquire Power Tool Invest B.V., the parent company of German power tool manufacturer Metabo Aktiengesellschaft, for approximately ¥21.4 billion, making Metabo a wholly owned subsidiary. The share transfer is scheduled for March 1, 2016.