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Thu 1 Mar 2007 12:00 AM

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JVC on the block

Three international equity groups have expressed an interest in acquiring a controlling stake in troubled consumer electronics company JVC, according to US press reports.

Three international equity groups have expressed an interest in acquiring a controlling stake in troubled consumer electronics company JVC, according to US press reports. Current dominant stakeholder Matsushita Electrical, which also owns the Panasonic brand, is reportedly in discussions with San Francisco-based Texas Pacific Group, Hong Kong-based CCMP Capital Asia and London-based Permira Advisers, to sell its 52% stake in the company, which is reportedly worth US$665 million.

With control of the company expected to go to the highest bidder, an auction has been scheduled for later this month.

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