Fujitsu aims to jumpstart stalled negotiations to sell a $730 million (¥104 billion) stake in its air-conditioning business, a deal that may help propel its expansion into a hot nascent market for AI services.
The Japanese icon, which is disposing of consumer-oriented businesses, remains in talks with multiple parties for a speedier sale of Fujitsu General, CEO Takahito Tokita said in an interview. The urgency to close has grown against the backdrop of escalating geopolitical and economic uncertainty, which is roiling company valuations.
Fujitsu has held talks with potential buyers including Bain Capital and KKR for the sale of its 44% stake. But the negotiations have bogged down over price. The stake is worth about ¥104 billion ($728 million) based on the latest share price.