LIXIL selling majority stake in LIXIL VIVA; SMBC Nikko advising – sources

03 February 2020 - 12:00 am UTC

LIXIL [TYO:5938], the Tokyo, Japan-headquartered building materials and home equipment manufacturer, is conducting a sale process for its 53.22% stake in Saitama-based home improvement center operator LIXIL VIVA [TYO:3564], sources familiar with the situation said.
LIXIL has retained SMBC Nikko as financial advisor to run an auction process to find a buyer. Information memoranda have been delivered to potential buyers, they added. First-round bids are due later this month, the first source said.
Global and domestic private equity firms are among those looking at the opportunity, the sources said. Japanese private equity firm Marunouchi Capital has previously approached LIXIL regarding acquiring the stake and is likely to be keen, the second source noted.
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